PEPE Coin price prediction: After a 20% spike and new ATH, what’s next?

Pepe Maintains Price Zone, Holders Increase

Pepe [PEPE] has sustained its recent all-time high, a trend it has exhibited for the past three months. It has also emerged as one of the most traded assets on Binance [BNB].

Pepe Remains in High Trade Volume

According to Binance data, Pepe ranked among the top traded assets within the past 24 hours. Previously holding the fifth position and being the most traded meme coin, it has since dropped to seventh place despite a significant 16% increase in trade volume over the past day.

Bonk [BONK] has now surpassed Pepe, ranking sixth with a 22% trade volume surge during the same period.

Pepe Price Prediction

AMBCrypto's analysis indicates that Pepe experienced a 20% spike on May 20th. This surge propelled it into a new price range and marked its highest single-day rise since March.

Specifically, the price rose by 24.56%, from around $0.000009 to $0.000011, reaching its highest historical value. At the time of writing, Pepe trades around $0.000011, although it has declined by over 2.7%.

Source: TradingView

An analysis of the Bollinger Bands suggests high volatility and the potential for further significant price movements. Additionally, the short Moving Average (yellow line) continues to provide robust support.

The Relative Strength Index (RSI) remains above 65, indicating a strong bull trend. However, the recent decline has prevented it from entering the overbought zone.

Post-ATH Outlook

Coinglass data analysis reveals that Pepe recently attained its highest Open Interest in a while. AMBCrypto's assessment indicates that Open Interest exceeded $121 million at the time of writing, signaling substantial cash inflow.

Furthermore, an examination of its volume on Santiment shows a recent surge, with volume reaching over $2.3 billion. These metrics suggest a positive price prediction, indicating sufficient volume and funding to maintain its current price level.

Source: Santiment

Increase in Pepe Holders

An analysis of the total number of holders indicates a slight increase over the last 24 hours. According to AMBCrypto's evaluation of the Santiment chart, the number of holders has grown by approximately 270.

On May 20th, there were around 221,540 holders, which has increased to 221,830 at the time of writing.

Source: Santiment