PEPE (PEPE) Price Forecast: Now is the best time to buy meme coins after buying 77% of meme coins

The report analyzes the potential reasons for the rise in Pepe's price and points out that its price may have bottomed out and rebounded. Strong fundamental factors support the surge in Pepe's price.

Several crypto analysts believe this is a great time to buy Pepe, as its price has fallen by more than 77% from its December high. They mainly rely on strong fundamental factors, such as the average US dollar investment age (MDIA) and technical analysis, such as the formation of a double bottom pattern.

Fundamentals are good for Pepe coin price

Several fundamental indicators indicate that the price of Pepe may rebound strongly this month. One of the key indicators is the average USD investment age (MDIA), which reflects the average time an investor holds Pepe coins and is weighted based on the purchase price. The 365-day MDIA indicator has climbed to its highest point this year, indicating that investors have long-term holdings of the currency.

Another Coinglass data shows that Pepe's futures open contracts may have bottomed out, which is a positive signal. Open positions peaked at $335 million on March 28, before falling to $195 million in a plunge in the crypto market. The current trend suggests that the indicator is consolidating at the bottom, which could drive prices up in the coming days.

These indicators explain why some analysts expect Pepe price to rebound in the coming weeks. An expert named Rodney said that now is "the best time to buy the greatest Meme coins of all time" and predicts that the next round of Pepe price increases will be "unstoppable".

Another expert with 40,000 fans pointed out through the weekly chart that the price of Pepe has shown signs of bottoming out and said that he is continuing to increase his holdings of Pepe.

Technical analysis: double bottom pattern confirmation

Technical analysis shows that with the convergence of the two key forms, Pepe may soon usher in a strong bullish breakthrough.

The first key pattern is the descending wedge, which has been going on for months. This pattern is marked in green and consists of two trend lines that converge downward. This pattern usually indicates a significant reversal in price.

The two trend lines of the downward wedge converge around $0.000060, which is also the low in August last year, forming a clear double-bottom pattern, which is a strong bullish signal. Recently, the price has also formed a smaller double bottom pattern, with the neckline at $0.0000092.

Pepe Coin Price Target

To sum up, the possibility of a strong rebound in Pepe price is very high. The initial target price is the neckline of the double bottom pattern, that is, 0.0…USD.

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