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- Popular crypto analyst predicts the crypto market is still highly interested in trading meme coins and PEPE price can recover.
- PEPE coin recorded a massive 4000% rally in a month and over 500% in a week.
PEPE coin trading remains high despite recent decline
Crypto analyst Michael van de Poppe suggests that PEPE coin has the potential to recover 50-80% after a few days of falling prices. However, he warns traders to be cautious of the coin’s volatility. In his tweet on May 8, he noted that PEPE coin still has upside momentum, despite its recent fall.
It has given a 35% bounce from $0.00000230, which is actually great. Although the price of the coin may continue to fall for the next three days, the analyst predicts that it can recover due to its high trading volume and liquidity.
Support levels and trading recommendations
The support levels for PEPE coin are currently at $0.00000168 and $0.00000148. While van de Poppe advises caution when trading meme coins like PEPE, he considers them great for trading due to their high trading volume and liquidity. He currently recommends accumulating Bitcoin, Ethereum, and Chainlink, which are part of his long-term investment portfolio.
PEPE coin’s market cap and trading volume
PEPE coin’s market cap reached $1.5 billion, thanks to Binance listing and announcements related to PEPE. However, several whales are continuously buying and selling PEPE, making it a risky asset for retail investors. Binance accounts for over 30% of trading volume, followed by OKX at 25%.
PEPE price falls by 27%
PEPE coin’s price has fallen by 27% in the last 24 hours, with the price currently trading at $0.00000207. The trading volume has increased in the last 24 hours, indicating an interest among traders. Some whales bought Shiba Inu and PEPE before the rally and made millions. People can follow these whales and invest early in projects to make profits.
In conclusion, while PEPE coin’s price has fallen recently, crypto analysts predict that it can recover due to its high trading volume and liquidity. However, traders should remain cautious of the coin’s volatility, and retail investors should be aware of the risks associated with trading such assets.
