Pepe Price Prediction: Trading Volume Reached $600 Million – Here are the Key Levels to Watch

The price of Pepe cryptocurrency dropped by 9% in the last 24 hours to $0.000007033. This decline occurred during a period of 3.5% depreciation in the overall crypto market.

A more detailed look at PEPE's performance shows that there has been a 1.7% decrease in the last week. There has been a 17% decrease in the last month, which represents a 31% decrease compared to the all-time high of $0.00001064 reached on March 14.

However, a positive trend is observed in the trade volume of PEPE. Over the last few days, trading volume has increased significantly, from $240 million to just over $600 million. This situation creates some optimism in the market and indicates that investors may consider these low prices as a buying opportunity in the coming days and trigger a significant price increase.

Taking a look at PEPE's price forecast, it is observed that it is entering a correction period after the decent gains made in the last few days, which increases the chances of a recovery in the near future.

The relative strength index (RSI) stopped its decline towards the 30 level and started to show an upward movement again. This may indicate that the price of PEPE may recover later today.

However, the 30-day moving average (MA) is still bearish and PEPE is trading below the 200-day moving average (MA), supporting the notion that the recovery may take some time.

PEPE's strong performing support level supports the expectation that the price will not suffer major losses in the near future, although it may fall further.

PEPE's $600 million trading volume demonstrates continued interest in the cryptocurrency. However, this figure is still far from the $3 billion volume levels reached in March.

General market dynamics are thought to affect PEPE's performance. In particular, the upcoming Bitcoin halving on April 20 and interest in spot-based Ethereum ETFs could boost overall market movements and interest in more speculative assets.

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