The cryptocurrency community was eagerly waiting for June to end and July to begin. This was because of the bloodshed that struck the market last month. But it seems like this trend was carried on to July as well as most assets were still painted red. Pepe Coin [PEPE], a prominent frog-themed coin was also suffering. The meme coin was trading at $0.00001049 following a 9% dip over the last 24 hours. But does this mean that the asset will trade at these levels throughout the month?
Data from Changelly revealed that eliminating a zero could be a difficult task this month. The asset is expected to surge to a high of $0.0000393 towards the end of the month. PEPE will continue trading at $0.0000254 as an average price. In addition, if bearish waves strike, the meme coin could dip to a low of $0.0000115. The cryptocurrency market is known for its volatility. This is primarily the case with meme coins. As a result, the forecast above might change based on how the market sentiment.
Also Read: 5 Best Meme Coins to Buy as Brett, Pepe & Dogwifhat Surge
Analysts Are on Team PEPE
In addition, several analysts have offered positive forecasts for the meme coin. The mood of the PEPE market seems to be shifting. Analayt Plazma notes that PEPE is maintaining above a critical long-term support level. The analyst also believes that PEPE will rebound off of this and start moving in the direction of a new ATH, which he believes will happen next week.
Pepe Coin hit an all-time high of $0.00001718 back in May 2024. The asset is currently trading 39% below this high. While achieving this level isn’t that hard for the meme coin, it still seems like a task considering the bearish nature of the current market.
Also Read: Pepe: Whale Sends $7.8 Million Worth of PEPE to Binance