PEPE Price Prediction As PEPE Falls 10% Against Dogecoin And Other Mim Coins – What’s Happening?

Last week, the crypto market experienced huge fluctuations. Meme coins like the PEPE coin took center stage and reached the 500 market cap, nearly doubling in value.

PEPE has seen its value nearly double after a meteoric rise influenced by key events such as the massive token burn and the market's focus on Bitcoin Spot ETFs.

Pepecoin doubles to $500M market cap as memecoin fever steals Bitcoin ETF's thunder Memecoin PEPE has doubled to reach a market cap of $500 million, as memecoin fever continues to steal attention away from Bitcoin and other major cryptocurrencies. pic.twitter.com/PPLpVoWAIL

— Verna Aguilar (@AguilarVer16223) October 27, 2023

However, as the euphoria died down and the market readjusted, PEPE, along with other token coins such as Dogecoin and Shiba Inu, experienced a steep decline.

With Bitcoin re-emerging as a trusted store of value amid geopolitical tensions, the question on everyone's mind is: What's next for PEPE and other mim coins?

This Pepe price forecast aims to unravel the complex dynamics at play and predict the potential direction of these digital assets.

Factors driving the rise of Memecoin

Several events have influenced this development pattern. In particular, the PEPE team's decision to burn about 7 trillion tokens played a major role, reducing the coin's supply and possibly driving up its price.

Burn baby 🔥 6.9 trillion $PEPE tokens burned by the group 🔥 #only 🐸 pic.twitter.com/QWtoas4g3N

— Addison 🐸 (@MrPepeWorldwide) October 24, 2023

Additionally, as the hype surrounding the Bitcoin Spot ETF began to die down, the crypto market's attention turned to memecoins.

Elon Musk's recent announcement of the inclusion of various payment methods in his platform X further stimulated the market.

TLDR: – Elon Musk is making big plans to launch X as a payment and financial services platform by the end of 2024. – Dogecoin (DOGE) as a payment method on X is attracting a lot of interest among crypto enthusiasts and investors.

— Discover Crypto (@DiscoverCrypto_) October 27, 2023

If X integrates Dogecoin as a payment option, it could have profound implications for both the platform and cryptocurrency.

In addition, Pepe Coin is currently trending high on CoinMarketCap, indicating significant upside potential for PEPE.

Comparison with other cryptocurrencies

Last week, meme-based coins like Shiba Inu, Dogecoin, Pepe Coin and Floki Inu surpassed industry giants like Bitcoin and Ether.

The appeal of these additional speculative assets has led to significant increases in the value of meme coins, including Pepe and Dogecoin.

For example, Shiba Inu recorded an impressive gain of +11.5%, setting new price levels. However, this change proved to be short-lived.

As the market corrected, the price of meme coins began to decline, leaving them for sale. In particular, the pepe coin is down more than 10 percent.

Bitcoin Rally Amidst Geopolitical Uncertainty

Following recent corrections in meme coin prices, Bitcoin has experienced a resurgence. This revival is largely related to the conflict between Israel and Palestine.

This trend underscores the growing confidence among investors that Bitcoin can serve as a safe store of value in turbulent geopolitical situations.

As more and more investors looked for safe havens, the value of Bitcoin increased, prompting a change in the meme coin landscape.

While FLOKIUSDT showed significant gains, both Pepe Coin and Dogecoin reported minor setbacks in the last 24 hours. Such developments further strengthen the status of the premier kriptovalyutnogo of Bitcoin.

For those who follow crypto market trends closely, be sure to check out our latest article on Bitcoin Price Prediction. Get the latest insights on BTC's potential direction.

Current market statistics

Pepe Coin: With a market value of $506.03 million, the price is $0.00000112 (PEPE/USD). It has decreased by 1.25% in the last 24 hours. Dogecoin: Up at $0.068818 (DOGE/USD) with a market cap of $9.74 billion. A correction of around 2.75% has been seen in the last 24 hours. Shiba Inu: Valued at $0.000008, with a market cap of over $4.50 billion.

Pepe price forecast

By the end of the trading session on October 27, PEPE was trading at $0.00000112. Over the past 24 hours, the digital asset has experienced moderate volatility.

Key Price Levels: The daily chart shows critical points for traders to monitor. PEPE's immediate resistance stands at $0.000001371, followed by $0.000001594 and $0.000001792.

On the downside, the coin's immediate support level is seen at $0.000000905, further support at $0.000000764 and $0.000000602.

Overall Trend: Bearish until PEPE stays above the $0.000001124 mark; Below, the mood can turn bearish.

Given the recent bullish momentum, PEPE may test the resistance at $0.00000137 in the coming days. Traders should monitor this level closely.

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Disclaimer: Crypto is a high risk asset class. This article is provided for informational purposes and does not constitute investment advice. You can lose all your capital.