The Pepe Coin price has risen by 3.5% today, reaching $0.00001114 on a day when the crypto market as a whole has dipped by a very slight 0.3%.
PEPE is now up an impressive 41% in a week and by 102% in the last 30 days, with the meme coin’s movements enabling an early whale (or insider) to sell 255 billion tokens yesterday and earn themselves $2.3 million.
Yet this same whale sits on a total haul of around 3.5 trillion PEPE, having posted an incredible 15,718x profit overall.
And with PEPE hitting not only a new all-time high yesterday but also a new ATH of $0.00001151 earlier this morning, its momentum looks like it will continue in the short—and medium-term.
Pepe Coin Price Prediction as Trader Makes 15,718x Profit – Time to Buy PEPE?
PEPE’s price continues to look incredibly bullish, and while this may ordinarily suggest an incoming fall, we said something similar yesterday.
Yet it still looks very strong, with its 30-day average (orange) racing steeply beyond its 200-day average (blue), a sign that it remains in a bullish expansionary phase.
Source: TradingView
PEPE’s relative strength index (purple) also remains very positive, having neared 90 a couple of days ago but still holding above 60 up until now.
And what’s unique about PEPE is that, unlike most other top-100 coins, it has actually surpassed its highs from early March.
There are a couple of interrelated reasons for this, with the first being that whales have been accumulating – and pumping – PEPE in recent weeks.
In addition, this week saw the return of legendary meme-stock trader ‘Roaring Kitty’ to X, creating an expectation that we may have a meme season on our hands.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
Such a season is also something we saw in the wake of the infamous GameStop rally of 2021, and while there’s no real indication that Roaring Kitty – real name Keith Gill – is going to do something similar very soon, it seems as though the market is preparing for such a possibility.
And PEPE has been one of the biggest beneficiaries so far, although it has long been one of the more popular vehicles for whales and larger traders.
As noted above, one big whale is still sitting on a trove of 3.5 trillion PEPE, implying that they expect it to continue rising over the medium and long term.
Earned more than $46M on $PEPE with only $3K, a gain of 15,718x!
This super big winner sold 255B $PEPE($2.3M) for profits again after the price of $PEPE increased.
He spent only $3K to buy 4.9T $PEPE($56M currently) on Apr 15, 2023, and sold 1.41T $PEPE for $7.4M, with 3.5T… pic.twitter.com/VKGxmK9gCt
— Lookonchain (@lookonchain) May 15, 2024
It should continue its ascent for the foreseeable future, with the Pepe Coin price likely to reach a new ATH by the end of the week.
Newer Meme Coins May Take Lead
PEPE is certainly one of the alts to watch right now, but it isn’t the only promising coin in the market today, with various newer meme tokens looking set to rally in the near future.
In fact, there are a handful of new meme coins which are currently holding their presales, with some raising substantial sums of money and generating plenty of hype.
Possibly the most exciting right now is Dogeverse (DOGEVERSE), a multi-chain token that has raised over $15 million in its token offering.
Source: Dogeverse
There are two main ways in which DOGEVERSE separates itself from the original Dogecoin, with the first being that it will run on Ethereum, Polygon, BNB Chain, Solana, Avalanche and Base.
This existence on several chains means that it could gain much more traction than it would have otherwise, with the coin potentially seeing use on a wider pool of apps and trading platforms.
On top of this, DOGEVERSE is a deflationary meme coin, with a fixed supply of only 120 million tokens.
In combination with the potentially greater demand, this fixed supply could squeeze the coin’s price upwards over time.
This could particularly be the case in conjunction with the ability to stake the token, something which could see a huge chink of its overall supply leave circulation.
As such, DOGEVERSE is really shaping up to be one of the biggest meme coin listings of the year, as indicated by its big raise.
Newcomers still have the chance to get involved by going to the official Dogeverse website, where 1 DOGEVERSE is $0.00031.
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