The cryptocurrency community is eagerly awaiting the end of June and the beginning of July. This is because the market suffered a devastating blow last month, and it seems that this trend has continued into July, with most assets still in a state of loss. Pepe Coin [PEPE], a popular frog-themed coin, has also suffered losses. After a 9% drop in the past 24 hours, the trading price of this meme coin is $0.00001049. But does this mean that the asset will trade at these levels throughout the month?
According to data from Changelly, eliminating zeros this month may be a daunting task. It is expected that the asset will surge to a high of $0.0000393 by the end of the month. PEPE will continue to trade at an average price of $0.0000254. Additionally, in the event of a bearish trend, the meme coin may drop to a low of $0.0000115. The cryptocurrency market is known for its volatility, and the case of the meme coin is especially so. Therefore, the above predictions may change based on market sentiment.
Analysts are in support of PEPE
Furthermore, several analysts have given positive forecasts for this meme coin. The sentiment in the PEPE market seems to be changing. Analyst Plazma pointed out that PEPE is maintaining key long-term support. The analyst also believes that PEPE will rebound from this level and start moving towards a new all-time high, which he thinks will happen next week.
In May 2024, Pepe Coin reached a historical high of $0.00001718. The current trading price of the asset is 39% lower than this peak. Although reaching this level is not difficult for meme coins, considering the bearish nature of the current market, this still seems to be a challenge.
