The popular low-cap frog meme coin, Wall Street Pepe (WEPE), appears poised for a bullish reversal, offering an excellent buying opportunity for sidelined investors.
WEPE staged an explosive bull rally in recent months, appreciating by more than 840% between May 31st and July 20th.
However, the broader market weakness resulted in a 50% correction, with the Wall Street Pepe price trading at $0.000075 at press time.
The meme coin is now at a confluence of several key support levels. With upcoming positive developments like its expansion to Solana, new CEX listings and partnership with popular Web3 brands like CoinPoker, WEPE could see strong buying pressure at current levels and make a push towards new all-time highs.
Wall Street Pepe Price Prediction – Is WEPE An Attractive Buy?
The broader crypto market is seeing strong selling pressure, and Wall Street Pepe isn’t untouched.
However, the meme coin is now at a confluence of two support levels – an ascending trendline that started on May 31st and a horizontal support level at $0.75.
WEPE is already creating a green daily candle at this confluence, currently up by more than 2.5% at press time.
Even if the meme coin loses its current support, the next major demand zone lies at $0.0000699, marked by a pink rectangle in the price chart above, which has historically triggered multiple successful rebounds.
Notably, the WEPE price has formed a hidden bullish divergence with its Relative Strength Index (RSI 14), as indicated by a higher low in the price and a lower low in the RSI.
Elliot Wave analysis further confirms this bullish trend.
Like a perfect textbook example, the Wall Street Pepe price has completed a 5-move impulsive wave to the upside (1-2-3-4-5), followed by three corrective waves (A-B-C).
It is now highly possible that a new bull trend is on the horizon.
Why WEPE Is One of the Best Meme Coins To Buy Now?
Wall Street Pepe continues to be one of the best low-cap meme coins to invest in.
Despite its explosive bull rally over the past two months, WEPE currently has a market capitalization of just $15.5 million.
More importantly, Wall Street Pepe is expanding to the Solana blockchain, which would likely result in a wave of new retail and smart money investment. Thanks to its low fees and high scalability, Solana attracts a broader mix of retail traders and deep-pocketed whales that Ethereum often struggles to onboard.
Moreover, it has hinted at more CEX listings, which could also result in significantly higher upside potential.
Wall Street Pepe continues to partner with popular Web3 brands like CoinPoker, one of the top crypto poker brands, which is leading to widespread brand awareness.
Unsurprisingly, prominent crypto influencers are highly bullish on WEPE, with many calling it one of the best meme coins to buy now.
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