PEPE Price Prediction – Can memecoin avoid a repeat of summer’s 60% retracement?

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  • PEPE had a bearish bias on the 3-day chart
  • Retracement in mid-2024 might not be repeated since market sentiment seemed much more bullish

As a seasoned crypto investor with over a decade of experience in this dynamic market, I’ve learned to navigate through the ups and downs of the cryptosphere with a grain of salt and an open mind. The recent bearish bias on PEPE’s 3-day chart doesn’t faze me too much, given the resilience shown by the bulls in defending the $0.0001711-level.

PEPE’s bulls have successfully held the $0.0001711 mark. The On-Balance Volume (OBV) indicates that the selling pressure hasn’t been excessive, even with the rapid declines over the past three weeks. Interestingly, the OBV has remained above its May highs, suggesting a trend towards recovery rather than further losses.

As reported by Lookonchain’s recent update regarding X (previously known as Twitter), a significant investor, often referred to as a ‘whale,’ has resumed purchasing the meme coin following its market decline. This action suggests confidence that the bulls will successfully regain control.

Will PEPE repeat this summer’s retracement?

Read more$70 million in 24 hours: Can Ethereum crack $4,000 thanks to whales?

Over the past three days, PEPE’s price trend showed a more pessimistic pattern. The market structure leaned towards the sellers due to the closing price of $0.00001705 on December 17, which was below the previous higher low of $0.00001729 set on November 26.

Moving forward, it’s possible that the price range between $0.00001974 and $0.00002259 may close, as this area appears to be a fair value gap. Therefore, we might see a price increase within the range of $0.00002 – $0.0000225 over the next few days.

In April, the surge of the PEPE memecoin was followed by a decline, reaching approximately 78.6% of its peak value, which was set at the end of May. If it follows a similar pattern this time, we might see a drop down to around $0.00001067 in the upcoming weeks before a potential recovery.

Nevertheless, the resemblances don’t have to be identical. The current market circumstances are significantly distinct. Between March and October, Bitcoin [BTC] exhibited a continuous decline, forming a downward trend within a descending channel.

Read moreBitcoin halving could be a ‘sell-the-news’ event, at least for a few months

Read Pepe’s [PEPE] Price Prediction 2025-26

Over the past few weeks, I’ve observed the PEPE token testing the $100k-mark on several occasions and reaching a new peak at $108k. However, it followed a downward trend along with the stock market during the third week of December. Consequently, the upcoming weeks might lean towards bullish trends for PEPE, and I’m optimistic that we won’t experience a significant retracement down to the 78.6% level at $0.00001067.

Based on current trends, we might anticipate a gradual shift towards approximately 0.0000144 in the coming days, followed by a period of lower peaks and stabilization for a few weeks. However, after this consolidation phase, there’s a possibility that the price could surge higher, potentially aiming for 0.000042 and beyond.

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2024-12-28 13:11