- Analyst stays bullish on PEPE despite recent pullback and consolidating support.
- CoinCodex predicts a 225% price surge for PEPE by April 28, 2025.
- PEPE’s derivatives trading volume rises, signaling growing market interest.
Amid the recent turmoil in the crypto market, many investors are wondering whether this is indeed the time to buy PEPE. Even so, analysts remain upbeat about its future despite its price pullback. Crypto expert EddyXBT is one such example, who has remained confident in the token, saying, “I can’t stop adding to my bags.”
His optimism comes as the token has been consolidating on key support levels. In the weekly TradingView chart, PEPE has been hovering near a key support level of $0.00000623. While it has fallen from its levels during the highs, the support level remains intact. At this level, the price shows a possible rebound if this price holds steady.
Meanwhile, its current Relative Strength Index (RSI) stands at 38.41, indicating bearish market sentiment. As of now, the PEPE token shows an oversupply in the market, which might send the opposite market signal. The RSI shows that there may just be a change in the market, and PEPE is preparing for it, although the market apprehension continues.
However, there’s a catch. If the current level of support fails, a further PEPE price decline is expected. On the one hand, the next market direction is dependent on the support and resistance equilibrium, so investors should stay watchful
CoinCodex Predicts 225% Surge for Pepe Coin by April 2025
According to the price prediction from CoinCodex, Pepe Coin (PEPE) will rise by 225.14% and reach $0.00002489 per token by April 28. In fact, despite the negative market sentiment, this Pepe coin price prediction is justifiable. For instance, the Fear & Greed Index, with a reading of 26, shows widespread fear among investors.
Besides, PEPE generated 47% of its total 30-day period in green days, which amounts to fourteen green days. It was during this period that the token experienced a volatility of 8.96%, showing that the market is yet to become predictable. CoinCodex analysis, therefore, means that the current market might not be favorable for purchasing PEPE tokens.
Looking ahead, CoinCodex anticipates a 114.05% short-term return on investment, with a target price of $0.00001343 by April 13, 2025. While the forecast suggests a possible rebound, ongoing market uncertainty and recent price fluctuations remind us to exercise caution when approaching the token.
PEPE Derivatives Surge, Market Sentiment Turns Bullish
According to on-chain data from CoinGlass, PEPE’s market activity has sharply increased, with the derivatives trading volume soaring to a two-month high of $1.91 billion on April 8, 2025. This is the highest volume since February 4.
PEPE’s trading volume stayed steady at under $1.10 billion for two months, but a breakout on March 27, marked a gradual increase, indicating increasing investor interest. Furthermore, the token’s open interest-weighted funding rate is in the green, standing at 0.0034%.
This is a bullish market sentiment as more people become optimistic regarding the token’s future direction. On the chart, however, some short negative readings from February to April are visible; nonetheless, most are positive. As such, this implies that PEPE long positions are willing to pay a premium to maintain their open position, which reflects high confidence in PEPE’s upside direction.
