PEPE’s Bumpy Ride: Essential Market Insights for South Africans

  • PEPE cryptocurrency recently experienced a shift in its price performance, moving from an all-time high to a series of lower highs, due in part to the fluctuating performance of Bitcoin.
  • Technical indicators, including the Relative Strength Index and the On Balance Volume, suggest a decline in PEPE's buying pressure and demand, as well as a lack of a strong trend.
  • Bitcoin's phase of extended consolidation has had a ripple effect on altcoins like PEPE, leading to significant pullbacks in their value. As Bitcoin's price movements largely influence the crypto market, these ongoing fluctuations heighten the need for careful monitoring by South African market observers.

In recent days, PEPE achieved a fresh all-time high, driven largely by the significant enthusiasm encircling Bitcoin Exchange-Traded Funds (ETFs). As the initial fervour surrounding ETFs started to wane, Bitcoin (BTC), the benchmark for cryptocurrencies, entered a period of fluctuation.

Importantly, during this unsettled period, PEPE started exhibiting a pattern of progressively lower highs. These fluctuations necessitate a closer inspection of the critical factors contributing to the descending trend in PEPE’s price performance.

The question arises: Are external market forces at work, or does this point to a larger shift in the cryptocurrency landscape? Additionally, how will these developments shape the future course of PEPE and other digital currencies? South African investors and market watchers, in particular, should consider these factors given the increasing adoption of cryptocurrencies within the country.

PEPE’s Price Performance: Peaks, Troughs, and Current Trends

Not long ago, PEPE registered a record high of $0.00000190, equivalent to approximately ZAR 0.00003572. However, as per the latest CoinGecko data, it currently trades at $0.00000152 or about ZAR 0.00002854. This reflects a modest 24-hour rally of 4.3%. Despite this, PEPE has witnessed a notable decrease of 13% over the last seven days.

Technical indicators further underscore the shift in PEPE’s price trajectory. A detailed PEPE price report highlights that several indicators have triggered sell signals. The Relative Strength Index (RSI), for instance, has been making lower highs, suggesting a reduction in buying pressure in recent days. Furthermore, the On Balance Volume has declined, indicating a dip in demand, while the Average Directional Index (ADX) has dropped below 20, signalling a lack of a strong trend for PEPE.

These technical signs hint at the hurdles PEPE has encountered amid its recent price fluctuations.

Altcoins’ Pullbacks During Bitcoin’s Ongoing Consolidation

Meanwhile, Bitcoin (BTC), the most influential cryptocurrency, has entered a period of extended consolidation. Its price has been oscillating around the ZAR 563,400 mark for nearly two weeks. This prolonged period of relative stability, interspersed with intermittent fluctuations, has cascaded through the broader cryptocurrency market, leading to notable pullbacks in the majority of altcoins, including PEPE.

Bitcoin’s dominant status makes its price movements a significant influence on market sentiment and the performance of other digital assets. When Bitcoin undergoes extended consolidation, investors and traders often adopt a more cautious stance, leading to hesitance in making major investment decisions. Consequently, altcoins, which rely on Bitcoin’s stability and favourable market sentiment, tend to be more susceptible to pullbacks and corrections.

These pullbacks in altcoins have been significant, with many witnessing considerable reductions in value during Bitcoin’s consolidation phase. The high correlation between Bitcoin and altcoins like PEPE exacerbates the impact of Bitcoin’s fluctuations on their prices.

As Bitcoin’s consolidation continues, monitoring its price movements closely and assessing the subsequent impact on altcoins and meme coins like PEPE becomes increasingly crucial for South African market watchers and crypto enthusiasts. Understanding these dynamics is key to navigating the unpredictable tides of the crypto markets effectively.

*Currencies in the article have been converted to the South African Rand

Visited 1 times, 1 visit(s) today

Stay ahead in the financial world – Sign Up to Rateweb’s essential newsletter for free. Get the latest insights on business trends, tech innovations, and market movements, directly to your inbox. Join our community of savvy readers and never miss an update that could impact your financial decisions.

Do you have a news tip for Rateweb reporters? Please email us at


Start trading with a free $30 bonus

Trade stocks, forex, commodities, metals and CFDs on stock indices with an internationally licensed and regulated broker. For all clients who open their first real account, XM offers a $30 trading bonus without any initial deposit needed. Learn more about how you can trade over 1000 instruments on the XM MT4 and MT5 platforms from your PC and Mac, or from a variety of mobile devices.


Personal Financial Tools

Below is a list of tools built to assist South Africans to make the best financial decisions:



South Africa’s primary source of financial tools and information

Contact Us


Rateweb strives to keep its information accurate and up to date. This information may be different than what you see when you visit a financial institution, service provider or specific product’s site. All financial products, shopping products and services are presented without warranty. When evaluating offers, please review the financial institution’s Terms and Conditions.

Rateweb is not a financial service provider and should in no way be seen as one. In compiling the articles for our website due caution was exercised in an attempt to gather information from reliable and accurate sources. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles.