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PEPE 7-day price prediction – 3 key factors will help the memecoin

2min Read

PEPE’s price action over the past few days holds some interesting clues about its future moves.

PEPE 7-day price prediction - 3 key factors will help the memecoin

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  • Rising active addresses propelled the significant price increase.
  • Circulation fell, and many old coins remained stagnant, indicating another upside.

The price of Pepe [PEPE] increased by 15.75% in the last 24 hours before falling 2%, according to data from CoinMarketCap.

Though other memecoins also jumped, AMBCrypto found specific reasons why the hike was special for PEPE.

Price is tied up with activity

According to on-chain data from Santiment, PEPE’s 24-hour active addresses increased from 2669 on the 1st of May to 4470 at press time.

Active addresses show the number of distinct users transacting on the network. In the broader crypto market, this metric does not always correlate with price.

However, a look at PEPE’s situation showed the price has a strong correlation with network activity.

PEPE's rising active addresses and price action

Source: Santiment

Should the metric continue to rise, the price of PEPE might also follow. On the contrary, a decline in active addresses might slow down the memecoin’s upward movement.

As a result of the price increase, Social Dominance jumped. Social Dominance shows the rate of discussions about a project when compared to others in the top 100.

Therefore, the increase implied that the market gave the memecoin the attention that others did not get. However, an extremely high social dominance might not be great for price as shown in the chart below.

A rise to $0.00001 may be next

For instance, when Social Dominance hit 2.21% on the 4th of March, the token reversed from its upswing.  A similar situation occurred on the 1st of April, as the metric indicated that PEPE was overhead.

Furthermore, Social Dominance was at a relatively healthy level. As such, the price of the token might hit $0.00001 before any retracement appears.

As for Social Volume, AMBCrypto noticed that it was not near previous peaks, indicating that the search for PEPE was not intense.

Following historical data, this means that there might be a buying opportunity available before it reaches the local top.

Search and discussion for PEPE rises

Source: Santiment

In the meantime, the one-day circulation fell from 11.50 trillion to 3.97 trillion. Regarding its price, the decline in circulation might help PEPE sustain the northward move.

This is because less circulation gives room for less selling pressure. However, this would only be the case if the buying momentum increases.

Another metric we evaluated was the dormant circulation. At press time, the 90-day dormant circulation decreased to 59.54 billion.

PEPE reinforces a bullish signal

Source: Santiment


Realistic or not, here’s PEPE’s market cap in DOGE terms


This decrease meant that old holders of the token refrained from moving their assets. Hence, most are unwilling to sell. Should this be the case going forward, another PEPE rally could be close.

This time, the token could drive toward a new high.

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Victor Olanrewaju is a full-time journalist at AMBCrypto. Settled in Lagos, his fascination with blockchain technology and the cryptocurrency market arose out of his love of freedom and everything free. As a Nigerian, Victor understands the impact unfounded financial restrictions have on a population. He sees Bitcoin and cryptos as a way to circumvent these obstacles, as a tool for value creation despite all the setbacks. A graduate in Physics, Victor previously worked as a Senior Marketer at Melange Technologies. Before that, he dealt with crypto-marketers on a regular basis in his capacity as Copywriter at Ventrix Media. At AMBCrypto, Victor’s focus is on assessing the real effectiveness of both on-chain and off-chain developments on a project and its community sentiment.
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