The PEPE price has dropped by 3% in the past 24 hours, with the meme token’s fall to $0.000000719755 coming as the cryptocurrency market continues to weather losses incurred yesterday.
PEPE remains up by 15% in the past fortnight, yet it’s down by 12% in a month and by 83% since hitting an all-time high of $0.00000431 in early May, a few weeks after it had been launched.
The meme coin’s overall decline since this early peak would suggest that its time as a hot cryptocurrency is now over, yet it seems that whales continue to use it as a vehicle for their own short-term gains.
This means that retail traders may be able to piggyback on whale-led rallies if they time their entries and exits right, but they could also just as easily get burned.
Pepe Price Prediction as PEPE Falls Along with the Wider Crypto Market – Are Whales Manipulating Prices?
PEPE did enjoy a little resurgence along with the rest of the market earlier this week, yet it seems that this has already died down, with the coin’s indicators showing signs of weakness.
Assuming that PEPE is likely to fall back down to its long-term support level (green), it may therefore dip to around $0.00000060 before stabilizing again.
Such negativity is supported by its relative strength index (purple), which has begun falling towards 40 again after a period of semi-recovery, with the indicator able to fall further before the coin becomes decidedly oversold.
Likewise, PEPE’s 30-day moving average (yellow) has begun dipping slightly after looking like it could begin rising again, with the coin’s price likely to fall below the indicator as its current selloff deepens.
And given that PEPE has fallen consistently since its early-May peak, today’s losses could continue in the coming few days.
There’s currently no indication that whales have took the opportunity to buy the dip today, with the last confirmed instance of whale accumulation falling on September 30.
It’s likely that the whales mentioned above still hold the PEPE they acquired on Saturday, meaning that they must expect a rebound to happen in the near future.
However, retail traders should be aware that once such a rebound arrives, the whales are likely to dump their holdings onto the market, bringing PEPE down once again.
This is the pattern that PEPE has exhibited throughout its still short existence, which perhaps isn’t surprising in light of the fact that it’s a total meme token with no real utility.
As such, it could rebound to $0.00000080 in the coming days or weeks, before falling yet again.
New Altcoins With Fundamentals
For any traders tired of pure meme tokens with no actual utility, there are some new cryptocurrencies in the market that offer good fundamentals.
One of the most interesting of these is TG.Casino (TGC), an Ethereum-based casino platform that is aiming to merge the areas of social networking and online gaming/gambling.
A strong sign of TG.Casino’s appeal to investors is the fact that it has already raised nearly $400,000 in its presale, which has been open for barely a couple of weeks.
On the one hand, TG.Casino will be an online gambling and gaming platform that will offer its users a wide selection of different games to play, giving them the chance to earn big rewards.
On the other hand, TG.Casino will also operate a strong presence on Telegram, harnessing the popular social messaging app in order to serve large communities of users and investors.
By having a presence on Telegram, TG.Casino is likely to grow faster than many of its rivals and will also be able to make use of significant network effects.
This hybrid approach to running an online gaming platform is likely to give TG.Casino the edge in what is a busy market, and it does seem that investors are already being drawn towards the platform.
They’ve also been drawn towards the fact that TG.Casino has already launched, in contrast to many other presale tokens.
As a token, TGC will have a of 100 million, with 40% of this going to the presale, 20% going to staking rewards and 10% to gaming rewards, making the cryptocurrency highly distributed.
The token can also be used for staking, with new investors able to buy some by going to the official TG.Casino website.
1 TGC will cost $0.125 for the entirety of the sale, yet it could easily rise much higher once it lists on exchanges in the next few weeks.
Visit TG.Casino Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
Read the full article here
