The cryptocurrency market has seen a substantial rise in volatility over the last few weeks. The market experienced a sharp correction earlier this month and is still far from fully recovered. Pepe (PEPE) has also followed the market trend, registering a massive price dip. According to CoinGecko’s PEPE data, the frog-themed memecoin is down 0.4% in the last 24 hours, 0.2% in the last week, 6.2% in the 14-day charts, and 22.4% over the previous month. PEPE’s price may face further corrections if the market environment does not improve. Let’s discuss if you should sell your holdings or wait and buy the dip.
Should You Sell Your Pepe, Or Buy The Price Dip?
According to CoinCodex analysts, PEPE may continue its downward trajectory. The platform anticipates the asset to fall to $0.0000051 on Nov. 5 of this year. Falling to $0.0000051 from current price levels will entail a dip of about 28%.
PEPE was in the spotlight within days of its launch in April 2023. The asset surged in the market cap charts, climbing into the top 20 at one point. PEPE hit an all-time high of $0.00002803 in December 2024. Since its peak, PEPE’s price has dipped by 74.3%. Given its solid historical performance, there is a chance that the memecoin will recover when the market picks up steam. The current volatility is likely due to trade disputes between the US and many of its partners. Cryptocurrencies could rally once the trade war front settles down.
Moreover, there is a high chance of the Federal Reserve cutting interest rates by another 25 basis points. Another rate cut could lead to a spike in risky assets. Memecoins, such as Pepe PEPE) could greatly benefit from another rate cut.
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However, if PEPE faces a steep correction, it could prove lucrative to buy the dip. The crypto market will most likely pick up the pace over the coming months. The SEC is scheduled to announce its decision on several crypto-based ETFs over the coming weeks. A positive development could lead to a market-wide rally.