The weekend behind us was mostly calm in the crypto space, and meme coins experienced a slow price action. However, the PEPE price broke new all-time highs last week before cooling off slightly below the $0.00001 area.
Let’s find out what prominent crypto analysts say about the PEPE price forecast.
PEPE Coin Price Prediction
XForceGlobal, an analyst with a significant following of almost 20k on X, provided his analysis on the PEPE price prediction. He mentioned that he has exited his position in PEPE, although he sees potential for some more upside. According to his analysis, PEPE has seen a 197% move from the wave 4/B bottom, and he believes a pullback might be necessary for the bull market to continue.
The analyst outlined two possible scenarios for the PEPE price movement. In the first scenario, he suggests that wave 5 is now complete, and PEPE could experience a sizable correction of 50-80% for wave 2, considering the 1,600% move over the past year. He believes that the bottom of this eventual wave 2 correction would be extremely bullish if the meme coin ecosystem remains strong.
$PEPE
Primary Macro AnalysisI am finally out of my position for $PEPE even if we are looking for a little potential more upside. We made a 197% move from that wave 4/B bottom potential at the .618. Overall, we should be rational here and look for some kind of pullback if we… https://t.co/T5EYEzfmFW pic.twitter.com/4WcLqxv9rr
— XForceGlobal (@XForceGlobal) May 19, 2024
In the second scenario, he proposes the idea that wave 4 is still in progress, and the PEPE chart might be forming a rarer wave 4 variation or a deeper C wave that would breach the previous wave A. Regardless of the scenario, the analyst’s analysis indicates that a pullback for PEPE is expected, although the extent and duration of the correction may vary.
Moreover, the popular YouTube channel 99Bitcoins, with around 700k subscribers, posted their PEPE price prediction today. According to their technical analysis, the one-week chart shows a downward trend after breaking all-time highs, while the one-month chart indicates significant gains with overall bullish indicators.
The moving averages suggest a buy signal, and the overall technical indicators and moving averages suggest PEPE is still in a bullish phase.
In terms of the long-term outlook, PEPE has experienced impressive gains over the past year (up almost 500%), six months (up 700%), month (up 78%), and week (up 7%). The current correction is seen as necessary for future price increases, and PEPE is expected to rise with the upcoming bull market, especially as Bitcoin increases in value.
The analysts mentioned that the PEPE price might continue to experience some short-term sell-offs before bouncing back, potentially reaching new highs and possibly “eating another zero” in its price.
Best Meme Coins to Buy Now – Next Meme Coin to Watch
99Bitcoins highlighted WienerAI as a potentially next meme coin to watch and best meme coin to invest in now. WienerAI is a meme coin that combines AI trading bot technology with a humorous exterior.
It is currently in presale, having raised $2.3 million already. WienerAI offers features such as advanced predictive AI trading technology for traders, a seamless token swapping platform called Sausage Swap with zero fees, and high staking rewards (417% APY at press time, expected to be lower as more tokens are staked).
The project has a growing community with over 9,000 followers on X (formerly Twitter), and its presale success, having raised over $2 million, indicates decent investor interest. Articles on various crypto media outlets and market sentiment indicate a bullish sentiment for WienerAI. The AI trading bot technology potentially sets $WAI apart from other meme coins, adding advanced features for traders.
Another meme coin to keep an eye on is Sealana, inspired by the viral South Park character “Gamer Guy” or “Fat Computer Nerd,” depicting an overweight seal obsessed with trading and finding the next big Solana meme coin. Sealana has raised around $2 million in its presale, looking to replicate the success of Slothana, another Solana-based meme coin that raised over $15 million in presale and then achieved a market cap of over $100 million after its launch.
Conclusion
As the PEPE price continues to be interesting topic in the meme coin ecosystem, analysts predict a potential pullback before further upside movements. While short-term corrections are expected, the overall sentiment remains bullish, with PEPE poised to benefit from the upcoming crypto bull market.
Meanwhile, projects like WienerAI and Sealana are emerging as potentially next meme coins to watch, offering features and doing well in their respective presales.
