Pepe Coin ($PEPE) Market Analysis: Will the 'King' Respect Max's Rallying Cry and Hit New Highs in October?

NAIROBI (CoinChapter.com) — Max, a crypto enthusiast, recently shared his bullish perspective on Pepe Coin ($PEPE), calling it the “premier large cap

Crypto Enthusiast Bullish on Pepe Coin ($PEPE), Hails it as ‘Premier Large Cap $ETH Beta’

NAIROBI (CoinChapter.com) — Max, a crypto enthusiast, recently shared his bullish perspective on Pepe Coin ($PEPE), calling it the “premier large cap $ETH beta of this bull market.” He believes that if Ethereum ($ETH) surpasses the $2800-$2900 range, $PEPE will hit new all-time highs.

Max’s rallying cry to the crypto community is to “Respect the King,” highlighting $PEPE’s strong performance.

However, linking $PEPE’s success solely to Ethereum’s performance might be an oversimplification. Moreover, market dynamics are complex, and focusing only on Ethereum could miss other crucial factors affecting $PEPE’s price.

But here’s a quick glance at the latest Pepe Coin (PEPE) price analysis.

Pepe Coin (PEPE) price analysis for Oct 7

PEPE opened the day at $0.000009716 after closing the previous session at 0.00001034. The canine meme token has dropped 3.5% in the past seven days, sparking concerns among traders.

A closer look at the PEPE/USD 1-day chart reveals a downtrend, with the token’s price trading below the 200-day moving average (MA). The MA 50 is also below the MA 200, indicating a bearish market trend.

Pepe Coin (PEPE) price dropped in the past 24 hours. Source: TradingView

The Bollinger Bands are converging, indicating low volatility in the PEPE market. Moreover, the Relative Strength Index (RSI) of 0.49 shows that the token is neither overbought nor oversold, leaving room for further price movements.

Pepe Coin (PEPE) price analysis from Changelly

Changelly predicts that the average price of PEPE will be $0.0000190 by mid-October. The canine meme token could trade between a minimum of $0.0000103 and a maximum of $0.0000277 by Oct 14.

If the uptrend continues, PEPE might reach an average price of 0.0000277. However, if the market takes a downturn, the token could drop to an average of $0.0000103.

Pepe Coin (PEPE) price analysis from Hellraiser

Hellraiser recently spotted a technical breakout in the 1-day $PEPE chart, suggesting a bullish trend. Moreover, rising trade volumes and an upward trend line support this perspective.

With these factors and a recent low of $0.0000088, Pepe Coin could be set for new highs as ‘Uptober’ approaches.

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