Introduction
After dropping over 20% last week, PEPE seems to be making a comeback. The token gained more than 4% in just the last 24 hours. But does this mean PEPE is on the road to a full recovery, or are more challenges ahead?
Signs That PEPE Is Recovering
PEPE had a rough week, losing over 20% of its value in just seven days. However, things started to look better in the last 24 hours. Its value rose by 28% per ByBit, trading at $0.000018618 at the time of writing. Not only that, but its trading volume also surged by 33%, crossing $4.25 billion.
When both price and trading volume go up together, it often points to a stronger market. For memecoins like PEPE, this pattern is common. They are often hit hardest during market corrections but tend to recover quickly when things improve. However, the question remains: Will this trend last, or is it temporary?
What’s Next for PEPE?
Looking forward, there are mixed signals about PEPE’s future. On one hand, data shows that buying interest in PEPE has grown recently. The amount of tokens being held outside exchanges has gone up, while the supply on exchanges has decreased. This shift often means more investors are holding onto their tokens, which can drive prices higher. Moreover, the Fear and Greed Index, which measures market sentiment, stood at 24%—a sign of “extreme fear.”
Interestingly, such fear in the market often presents opportunities for price rebounds. This could mean that It has room to grow. On the other hand, not all the news is good. Big investors, known as whales, have been selling some of their PEPE holdings. A drop in whale activity can create selling pressure, which might slow down its upward momentum.
Market Indicators Are Sending Mixed Signals
Several market indicators show conflicting trends. For instance, The Relative Strength Index (RSI) is moving upwards. This is a positive sign that suggests more people are buying PEPE, which could help sustain its recent growth. However, the Moving Average Convergence Divergence (MACD) indicator paints a less optimistic picture. It signals that a bearish trend may be forming, which could mean prices might fall again in the near future.
VR Soldiers’ Thoughts
As the VR Soldiers, we believe PEPE’s recent gains are encouraging, but the road ahead is still uncertain. On the bright side, growing buying pressure and market fear could support more gains. However, whale activity and bearish indicators make it important for investors to proceed carefully. Always remember, this is not financial advice—make informed decisions.
Conclusion
The memecoin’s rise in the last 24 hours suggests recovery, but it is too early to call it a complete turnaround. While buying activity and market fear could push prices higher, whale selling and bearish trends suggest caution. For now, PEPE’s recovery shows promise, but the future remains unpredictable, as memecoins often depend heavily on sudden market shifts.
