PEPE’s Rally Stalls as Musk Effect Fades – Is This the Start of a Bigger Decline?
Pepe’s price has increased by 7% in the past 24 hours, reaching $0.0000207, aligning with a broader recovery in the cryptocurrency market.
Facing struggles in the previous week, PEPE experienced a rebound on New Year’s Day, resulting in an 18% gain over seven days for the meme token.
Despite this, its monthly increase stands at only 1%, prompting speculation on its ability to revisit the previous all-time high achieved in early December during the post-election bull market.
Following Elon Musk’s recent endorsement through briefly using Pepe as his X profile image, the coin appears poised for a robust rally in the upcoming year.
PEPE’s Rally Stalls as Musk Effect Fades – Is This the Start of a Bigger Decline?
In the lead-up to the New Year, PEPE faced challenges, lacking a festive uptick even on Christmas Day.
However, a recovery ensued after Elon Musk altered his X profile picture to feature Pepe.
Interestingly, despite a decline post Musk’s influence, PEPE has rebounded by 7.5% from its 24-hour low of $0.00001915.
The coin’s 24-hour trading volume reflects this newfound momentum, escalating from $2 billion to $2.3 billion within hours this morning.
Encouraging signs are evident on its chart, with the relative strength index (purple) climbing back to 70, indicating buying pressure.
Moreover, after surpassing the 200-period average (blue) on New Year’s Eve, the 30-period average (orange) continues its ascent.
Collectively, these indicators suggest that PEPE has reentered a growth phase, mirroring the overall market trend.
Beyond recent overselling, fundamental factors contribute to this resurgence, notably the approaching inauguration of Donald Trump in the US.
While concerns exist regarding a potential sell-off following the event, it signifies a forthcoming positive phase for cryptocurrencies.
Anticipated changes include the SEC’s likely shift in crypto policy under Paul Atkins as Chairman, Congress enacting pro-crypto laws, and potential bullish executive orders from Trump early in his term.
In this environment, PEPE stands a chance to rally alongside other meme coins, attracting a steadily increasing ownership base.
Projections hint at reaching $0.0000250 in the near term and $0.000035 by Q2.
New Pepe Coins Offer Market-Beating Gains
In light of PEPE possibly losing steam, traders are advised to explore newer alternatives for enhanced returns, with several presale coins showing promise.
Leading the pack is Wall Street Pepe (WEPE), an ERC-20 token that amassed an impressive $39.4 million in its presale.
WEPE’s appeal lies in its comprehensive approach beyond being a meme coin, featuring a trading intelligence platform for holders.
The platform offers exclusive buying signals, real-time analytics, insider trading strategies, and a community fostering information sharing and trading competitions.
Winners of these contests earn rewards in WEPE, while staking options provide additional earning potential for holders.
With these attributes, Wall Street Pepe emerges as a lucrative opportunity, allowing interested investors to participate through its official website.
Presently priced at $0.0003663, WEPE’s value is set to rise later today, urging swift action from traders to potentially benefit from its anticipated surge upon listing.
Disclaimer: Cryptocurrency carries high risks. This article serves informational purposes and does not constitute investment advice. Capital loss is a possibility.
