PEPE Coin Price Prediction: Can PEPE Coin Price Surge to $0.000015 by October?

During Monday’s trading session, the Pepe coin price saw a 3% drop, retesting the crucial $0.00001 support level. This bearish movement aligned with Bitcoin’s fall below the $65,000 mark

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Pepe coin price dropped 3% during Monday’s trading session, retesting the critical $0.00001 support level. This bearish move coincided with Bitcoin’s fall below the $65,000 mark, triggering a corrective phase across several major altcoins.

Despite this, PEPE is poised for a sharp recovery, fueled by accumulation and the completion of a bullish pattern.

Can PEPE Coin Price Surge to $0.000015 by October?

In a month, the PEPE coin price rallied from $0.00000633 to $0.0000119, notching an 89% increase. This bullish reversal managed to reclaim crucial daily EMAs (20, 50, 100, and 200), signaling a positive shift in market sentiment.

A closer inspection of the daily chart reveals that this reversal breached the resistance trendline of a falling wedge pattern. This chart formation drove a gradual correction within two converging trendlines for four months before offering a breakout.

The post-rally aligns with the late September rally that pushed the asset to a high of $0.0000119 before correcting to $0.0000108. The coin price is now poised to consolidate or pull back momentarily at $0.00001 and regain the bullish momentum.

The post-breakout rally could propel the asset for a retest of $0.0000135 before breaching the $0.000015 mark.

According to Santiment data, large wallet holders possessing between 100 million and 1 billion PEPE coins have been actively accumulating, bringing their total holdings to a massive 13.51 trillion coins. This significant rise in accumulation suggests that whales are preparing for a potential price surge, indicating strong confidence in future price growth.

Check out the article on top meme coins to buy for a detailed analysis.

PEPE Coin Faces Potential Downturn as 30-Day MVRV Hits 38.7%

The Santiment analytics shows the 30-day MVRV (Market Cap to its Realized Cap) ratio recently spiked to 38.7%, indicating that short-term traders are in profit. Usually, the high value coincides with the market top, and speculative traders begin booking profits,

Hence, if the Pepe coin price breaks below the $0.00001 support, the sellers could accelerate the bearish momentum for a prolonged fall.

Conclusion:

If the PEPE price post-rally correction manages to hold above the $0.00001 level by mid-October, a recovery toward $0.000015 is likely.

Frequently Asked Questions (FAQs)

1. Could PEPE Coin rally to $0.000015 in October?

If the PEPE price post-rally correction manages to sustain above the $0.00001 level by mid-October, a recovery toward $0.000015 is likely.

2. What does the 30-day MVRV ratio indicate for PEPE Coin?

The 30-day MVRV (Market Cap to its Realized Cap) ratio recently spiked to 38.7%, indicating that short-term traders are in profit.

3. What technical pattern supports a potential PEPE price recovery?

A falling wedge pattern on the daily chart offers support to a potential PEPE price recovery.

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