PEPE Price Forecast: Is PEPE Setting up for 50% Breakout?


PEPE Weighted Sentiment vs Price

However, according to one analysis, the drop in investors’ confidence might not affect PEPE adversely yet. Plazma, a popular crypto-analyst, is of this view, with the analyst tweeting that the memecoin is set to test its ATH.

As per our analysis of Santiment’s data, PEPE’s MVRV ratio had a value of 16.26%. Whale activity around the memecoin was also high last week.

Following a deeper look at the same, we found that the memecoin’s supply held by top addresses hiked too. This clearly meant that whales were buying PEPE – A sign that they expect the memecoin’s price to surge in the coming days.

PEPE to hit new highs soon?

PEPE’s MACD projected a bullish advantage in the market, while the Relative Strength Index (RSI) was resting above neutral. Additionally, the Bollinger Bands implied that PEPE’s price was well above its 20-day Simple Moving Average (SMA), meaning a sustained rally would be possible.

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