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[TL; DR]

PEPE gained b over 50% during the fourth week of April which raised hope for a bull run.

A strong Bitcoin rall in coming weeks ma create a market-wide bullish outlook.

The current market outlook indicates that the smart mone investors who acquired PEPE in April Ma earn much profit in the near future.

Introduction

Most crptocurrencies are under loss less than two weeks after the much heralded bitcoin halving. However, the fact that the market is depressed does not show that the aftermath of the halving event is against the market expectations. In fact, some analsts predicted that bitcoin would get into a bearish period soon after its halving but will rall later on which will pull the other crptocurrencies like PEPE with it.

There are several reasons that have led to the current crpto market fall. For example, the Middle East geopolitical situation is impacting the performance of crptocurrencies as it brings uncertaint in the market. The legal battles between the United States SEC and crpto project leaders like Changpeng Zhao and Samourai Wallet founders ma also have a huge bearing on the current crpto market sentiment.

Nevertheless, the aim of this article is to anale the current and future PEPE coin price movements. We will also look at the impact of whale activit on PEPEs market dnamics. Lastl, we shall cover the PEPE coins short term price prediction.

The Surge in PEPE Price: Dnamics behind PEPE Coin's Recent Rall

Since the beginning of the ear the PEPE coins price performance has been characteried b minor dips and strong bounces. For example, in the 24-hour period that stretched from 23 to 24 April there was a PEPE coin price surge of about 18.5% which led the token to trade at around $0.0000080. All in all, during that week PEPE gained b more than 50%. Such a price surge resulted in a PEPE coin market capitaliation of $3.31 billion which has helped to position it as the 37th largest crptocurrenc.

During the same 24-hour period the tokens trading volume surged b 62% to reach $1.64 billion. At the time of writing, investors can bu PEPE at 0.000008776, after it gained b 13% within one da. The next graph shows the PEPE memecoin market performance within the last 1 month. PEPE Price Performance for the Period 6 April to 4 Ma - CoinGecko

As The Graph indicates, the PEPE memecoin price surge started on 20 April and is continuing. So far, the altcoin has gained b 70.6% within the last 7 das and 24.6% within the last 30 das. This indicates the strength of the memecoin market rall that started on 20 April, the bitcoin halving date. The expectation of a market-wide rall after the halving event ma be influencing its current price rise.

Read also: PEPE Claims Throne of meme Coins

The short-term PEPE coin liquidations could be another factor behind its current price trajector. Notabl, during the third week of April PEPE coin open interests rose b 9.35% to $64.59 million. Short positions worth $1.15 million out of a total figure of $2.12 million were liquidated.

Another reason that might have contributed to the PEPE memecoin market rall was the listing of PEPE perpetual contracts on Coinbase on 23 April. The perpetual contracts which Coinbase introduced have no expir dates and mirror the underling markets performance. Basicall, PEPE performed ver well in March. During that period the altcoin price surged from $0.000002738 to $0.00001074, its all-time high.

Read also: PEPE Skrockets B 1000% How Did This Frog Go Viral?

How whale investors impact PEPE's market position

The current memecoin whale activit is another factor that has sustained the on-going PEPE bullish rall. Based on the present crptocurrenc investment trends there is a high indication that whale activities are responsible for most sustained price rallies. The reason is that man crpto whales are adding PEPE to their investment portfolios, bolstering its on-going bullish momentum.

According to Santiment, during the last two weeks whales acquired over 3.3 trillion PEPE valued at around $24.3 million. As a result, the whales now hold over 46.96 trillion PEPE meme coins. The rise in whale PEPE holdings has created a strong support level to prevent an price fall.

As per Spotonchain X post, the wallet address rektdolphin.eth belongs to a PEPE memecoin whale that has been acquiring the coin in large amounts. For example, within a 24-hour period that stretched from 24 to 25 April this crpto whale acquired 211.6 billion PEPE tokens, worth around at $1.72 million at the prevailing market price. Source: x.com

Lookonchain has highlighted the activit of another PEPE whale b the name James Wnn. Wnn, a memecoin trader and investor, acquired 2.83 trillion PEPE at a total cost of $8,524. Nonetheless, he has alread sold 1.81 trillion tokens, for $4.57 million.

Read also: Meme Coin Mania Back? PEPE and WIF Rall Source: x.com

At the moment, Wnn holds 1.02 trillion PEPE, probabl waiting for its price to rise. Man of these PEPE investors are purchasing the tokens at Gate.io, Binance and Uniswap. Essentiall, it is this PEPE investors conviction that continues to sustain its bullish momentum.

PEPE Price Predictions and Market Resistance

Although PEPE managed to escape a descending wedge it still faces much resistance on its path towards $0.00001. As of now, the altcoins closest ke resistance levels are at $0.000008407, $0.000008716, $0.000009182. Once it overcomes these, it ma head straight to $0.00001.

On the other hand, its ke support levels are at $0.000007633, $0.000007168 and $0.000006859. As ou note, an increase in the PEPEs bearish pressure ma push its price below $0.000007633 which is its first strong pivot point. Further bearish pressure ma drive its value past $0.00000633 as it moves towards $0.00000474. The following graph shows PEPE memecoins price prediction chart for Ma. PEPE Price Prediction for Ma 2024 - CoinCodex

The above graph shows the altcoin growth prospects with its next price target being $0.00002949. Therefore, the continued whale investments in PEPE ma propel its price towards that price level.

What PEPE's Rall Means for Investors: Strategies and Considerations

Basicall, the PEPE price trajector points to a bullish rall that ma go beond Ma. The next graph illustrates PEPEs next possible price move. PEPE Rall TradingView

As we note on the diagram, the PEPE altcoin is best positioned for a sustained rall. The current tokens MVRV ratio also indicates a potential price rise. As of 2 Ma PEPEs MVRV was at 4.86% which suggests that the tokens acquired in April are in a profitable position.

If bitcoin supports a market-wide bullish outlook there is a high probabilit that PEPEs price ma surge for several weeks or months. With this in mind, the smart mone investors who bu meme coins now ma generate profit in the future. The best strateg for the whales could be to hold their PEPE meme coins for a longer period to increase their profits.

Conclusion

PEPE meme coins price surged b over 50% on 24 April which further confirmed its current bullish momentum. Ever since that time, the altcoin has been gaining da b da, despite some minor dips. In light of PEPE coins present momentum, smart mone investors ma hold on to it for a longer period with the aim of generating more profits.