Bitcoin is pushing towards $70,000 and had risen to $69,980 at the time of writing, but Fed decisions have not yet been announced. Inflation data was released just a few hours ago. The latest data, which excited investors, indicated that the decline in inflation continues. So, let’s see which altcoin can bring a 70% gain before the end of the month as risk appetite increases.
PEPE Coin Analysis
In yesterday’s assessment, we mentioned that PEPE Coin is among the altcoins that can be bought these days. Despite Friday’s losses, PEPE Coin bulls maintained the key support level. This support area they maintained shows that the excitement of investors has not faded, allowing them to continue attempting ATH.
PEPE Coin, lingering at the lower trend line of the rising wedge formation, is inclined to make a new attempt towards the upper trend line. This means that the bulls will move towards $0.0000266, accelerating the rally for a 70% increase.
PEPE Coin Price Prediction
The rising wedge formation mentioned in the first section leads to excessive sales with increasing trading volume and the disappearance of the trend line. However, since PEPE Coin’s price maintains this line, the direction is upward.
Not only technical readings confirm the rise. Whales holding PEPE Coin also believe in the rise. The group of whales holding 1 billion or more PEPE Coins maintained their assets despite extreme volatility in the general market. Whales holding between 10 million and 100 million PEPE and between 1 million and 10 million PEPE continue to accumulate despite the price being on the verge of ATH.
If no one is selling, the price should rise, and maintaining the key support before ATH is possible this way. Moreover, the macroeconomic outlook also supports the potential for further increases in PEPE Coin and other altcoins.
According to UBS Chief Strategist Bhanu Baweja, Fed Chairman Jerome Powell will start lowering rates without further delay due to inflation approaching 4%. We also saw a sharp drop of up to 180bp in the yield of US 10-year bonds before today’s inflation data.
In summary, as things improve for crypto, PEPE Coin seems to be differentiating itself more positively. And as always, I am sure that I do not see the future while writing these lines. Investors must always create their own strategies, and predictions can be wrong 50% of the time.
