Although it has appeared on the cryptocurrency market only recently, Pepe (PEPE) has won over many meme crypto fans. As such, it has threatened to overshadow the likes of Dogecoin (DOGE) and Shiba Inu (SHIB), but judging by the machine algorithm projections, its price movements in the near future might not be as impressive.
Indeed, the machine learning algorithms deployed by the cryptocurrency monitoring and forecasting platform PricePredictions have projected that the price of Pepe on July 1, 2023, could decrease to $0.000001585, according to the information accessed by Finbold on June 26.
If the above projections, generated using indicators such as the moving average convergence divergence (MACD), relative strength index (RSI), Bollinger Bands (BB), and others, prove correct, they would represent a 1.06% decrease to the current price of Pepe, which at press time stood at $0.000001602.
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Pepe price analysis
As a matter of fact, the above price represents a 0.91% increase on the day, a significant 71.30% gain across the previous week, and a 10.67% advance on Pepe’s monthly chart, as per the most recent data seen by Finbold on June 26.
Meanwhile, the 1-day technical analysis (TA) gauges over at the finance and crypto analytics platform TradingView are also bullish on this asset, suggesting a ‘buy’ at 10 on their summary, which is the result of oscillators standing in the ‘neutral’ zone at 8 and moving averages (MA) showing a ‘strong buy’ at 9.
All in all, whether the above predictions for Pepe’s future price come true will depend on multiple factors, including the recent delisting as a loan asset by the crypto trading platform Binance, which might be one of the factors that could push its price down.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
