The Pepe (PEPE) price has recently dropped 12% from its peak, causing speculation among traders about whether it is a good time to buy the dip. Even though the price spiked to record highs above $0.000011 earlier this week, it has since pulled back to just over $0.00010. Chart analysis hints that it might not be the best time to invest in PEPE’s latest pullback.
Despite the recent drop, the Pepe bulls still seem to be in control of the market. The meme coin is trading well above its major short-term moving averages, which have been acting as support levels. Additionally, Pepe broke out of an ascending triangle structure earlier, indicating potential for a bullish momentum. Traders considering a long position may want to wait for a retest of the upper limits of this structure before entering the market. The $0.00000920 level is expected to provide strong support for the price.
With a market cap of approximately $4.3 billion, Pepe still has room to grow in this current bull market as it gains popularity. The goal for Pepe bulls is to one day compete with major meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB), which have market caps of $21.9 billion and $14.6 billion, respectively. As of now, Pepe falls short in terms of popularity with only 650,000 followers compared to Dogecoin’s 3.9 million and Shiba Inu’s 3.8 million followers.
Investors looking for substantial profits in the range of 20-50x may want to explore presale investing in high-potential projects. One such project recommended by analysts is the GambleFi ICO Mega Dice Casino. The newly launched presale of its utility token, DICE, has already garnered significant interest with over 10,000 active players and $50 million wagered monthly. The presale has raised over $1 million, indicating strong demand for DICE.
At a price of $0.075 per token, DICE currently holds a $30 million market cap. Considering the real-world adoption of Mega Dice Casino and its position as a market leader in GambleFi, the potential for growth is substantial. With the sector expected to expand, DICE has the potential to become a 50-100x coin in the future.
It is essential to remember that cryptocurrency is a high-risk asset class, and the information provided in this article is for informational purposes only and should not be considered as investment advice. There is a risk of losing all capital in cryptocurrency investments, so it is crucial to conduct thorough research and seek professional advice before making any investment decisions.
Leave a Reply