Pepe Price Prediction: Analyst Sees 30% Downside For PEPE As Traders Flock To Buy This Bitcoin Alternative Before A Price Hike

Pepe price is up 4% in the last 24 hours to trade for $0.00000143 as of 12:45 p.m. EST, but trading volume has dwindled 11%.

The drop in trading volume is characteristic of weekends, when retail tends to take a back seat. Meanwhile, the number of PEPE holders continues to increase, up 81 addresses today as some investors anticipate more growth.

+81 new $PEPE holders today.

Great $PEPE space today, I will try to host more often, 3 spaces in 2 months is not enough.$PEPE needs just a bit more time and energy to create a chain reaction of explosive growth. $PEPE is so easy to predict because I have seen the same with… https://t.co/NtNV9naqW0 pic.twitter.com/je8A4rtoEW

— Plazma (@Plazma0x) December 16, 2023

One trader sees tough times ahead for Pepe’s price. @Cryptokaleo, looking at Pepe’s price on the 4-hour timeframe, observes that the frog-themed meme coin’s uptrend broke down again

He says that he would not enter a long position on Pepe price as the potential of PEPE hitting its all-time high has been invalidated unless the token reclaims above the $0.0000018 level.

$PEPE

For now, above scenario is invalidated. Wouldn’t enter a long until we see some bullish momentum and a reclaim of 0.0000018.

Wouldn’t be surprised to see a return back to the base of this range closer to 0.000001. pic.twitter.com/LaOQewzY4y

— K A L E O (@CryptoKaleo) December 12, 2023

For now, @Cryptokaleo anticipates a 30% drop to the $0.000001 psychological level.

Pepe Price Outlook As PEPE Holders Anticipate More Growth

Pepe price is consolidating along an ascending trendline, as the frog-themed token recovers from the downtrend that commenced in July. As long as the price remains above this trendline, investors can expect more profit.

Nevertheless, it faces resistance from the July 13 supply zone, which extends from $0.00000146 to $0.00000172. To confirm the continuation of the uptrend, PEPE price must record a decisive candlestick close above the midline of the order block at $0.00000158.

Increased buying pressure above current levels could see PEPE price flip this supply barrier into a bullish breaker. This would set the tone for the price to target the next supplier congestion marked by the equal highs at $0.00000191.

In a highly bullish case, the price could extend for Pepe’s price to shatter past the $0.00000200. In a highly bullish case, the gains could extrapolate for the price to test the $0.00000250 level. Such a move would constitute a 77% climb above current levels.

The Relative Strength Index (RSI) is deviating towards the north, showing that momentum is rising. Its position above the 50 midline, coupled with the Awesome Oscillators (AO) and the Moving Average Convergence Divergence (MACD) indicator in the positive territory accentuates the bullish outlook, showing the bulls are leading the PEPE market.

TradingView: PEPE/USDT 1-day chart

Converse Case

On the other hand, if the supply barrier holds as a resistance level, Pepe price could face a rejection, which could see it lose the support offered by the ascending trendline. A break and close below the $0.00000100 psychological level would invalidate the bullish thesis.

In the dire case, the slump could extend for the price to test the $0.00000085 support level, or in the dire case, extrapolate to the $0.00000061 support floor.

Meanwhile, the broader crypto market’s eyes remain peeled on Bitcoin (BTC), and with it BTCMTX. It comes as January and 2024 more broadly promise multiple bullish developments for the king of cryptocurrency. That’s a key reason why BTCMTX  features among analysts’ top five cryptos to buy in December with 10X growth potential.

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And why it is among the top crypto presales to consider ahead of the next Bitcoin halving.

Promising Alternative To PEPE

BTCMTX is the powering token for Bitcoin Minetrix, a stake-to-mine project that is taking over the meme coin space. The project has made BTC ownership easy and doable even for the ordinary folk, decentralizing and tokenizing the process.

#BitcoinMinetrix embodies a tokenized cloud mining system, enabling regular users to participate in decentralized $BTC mining.⛏️

This platform mitigates third-party cloud mining risks, offering full operational autonomy. ???? pic.twitter.com/4jekB8X6lr

— Bitcoinminetrix (@bitcoinminetrix) December 16, 2023

The project has simplified BTC mining and therefore Bitcoin ownership, using a unique stake-to-mine approach. BTCMTX token holders can stake their holdings for credits, and then redeem or burn these credits for mining hash power.

Simplifying $BTC mining via #BitcoinMinetrix.

Transforming cloud mining with a focus on safety and openness.

Ensuring ease like never before. ???????? #BTCMTX #BTCMining pic.twitter.com/39lv7rYffz

— Bitcoinminetrix (@bitcoinminetrix) December 14, 2023

The Bitcoin Minetrix project is in the presale stage, attracting a massive $5.367 million in presale sales so far out of a target of $6.079 million. In the current stage, investors can buy BTCMTX for only $0.0122, but the price will increase in about 13 hours.

Visit Bitcoin Minetrix website to buy BTCMTX in the presale here.

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