PEPE
Pepe Coin Price Signals 30% Rally with Wedge Pattern in Play
Published
1 month agoon
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adminPepe coin price saw a 2.3% jump during Monday’s session as the crypto market experienced a relief rally. As Bitcoin attempts to reclaim $60,000, the volatile meme cryptocurrency sector, including Pepe, shows significant growth. Will this recovery continue, or are sellers waiting for a counterattack?
PEPE Coin Price Nearing a Crucial Breakout
For the past two weeks, the Pepe coin price showcased a sideway action resonating between the $0.000009 resistance and the lower trendline of the wedge pattern. A recent bearish reversal from overhead resistance plunged the asset by 18% to trade at $0.0000074. Consecutively, the market cap fell to $3.16 Billion.
The wedge pattern consists of two converging trendlines that indicate a prevailing trend’s losing momentum. The trendline as dynamic resistance and support leads the price to a narrow apex before a decisive breakout for the next directional rally.
Moreover, the Pepe coin has experienced a notable surge in Open Interest over the past week. Data from Coinglass reveals that Open Interest jumped from $63 million to $92 million, marking a significant increase of 46%.
This sharp rise in OI suggests growing investor interest and increased participation in the market, indicating that traders are positioning themselves for potential volatility or upcoming price movements.
If the selling pressure resumes, the PEPE price may plunge 15% to seek support at the lower trendline. Previously, a reversal from this support led to a 72% rally to hit $0.000013 in late July, indicating a high accumulation zone for buyers.
If history repeats, the PEPE price will rally 30% to $0.0000098 to challenge the resistance trendline of the wedge pattern. A bullish breakout from this resistance will signal the end-of-correction trend.
On the contrary note, the coin price trading below the daily Exponential Moving Averages (20, 50, 100, and 200) hints the path to least resistance is down. A potential breakdown from the lower trendline will invalidate the bullish thesis and prolong a downfall to $0.00000463.
Frequently Asked Questions (FAQs)
The wedge pattern, characterized by converging trendlines, suggests that Pepe coin is nearing a crucial breakout point.
The key levels include the $0.000009 resistance and the lower trendline of the wedge pattern. A breakout above resistance could target $0.0000097 with 30% growth
Pepe coin’s Open Interest surged by 46%, from $63 million to $92 million, signaling growing investor interest and increased market activity.
Sahil Mahadik
Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Whale Dumps Entire PEPE, FLOKI, and WLD Holdings, What’s Next For These Assets?
Published
6 hours agoon
September 19, 2024By
adminA crypto whale has sold his entire Pepe coin, FLOKI, and Worldcoin holdings amid the recent price surge in the market. The digital asset market notched increased sentiments following interest rate cuts by the Federal Reserve. However, some users point to profit taking which can reduce the projected uphill movement.
PEPE Whale Dumps Assets
A digital asset whale has sold his holdings in three assets raking in profit. On-chain data shows the trader has sold $3.2 million in PEPE, FLOKI, and WLD making a $200,000 profit. The whale raked in $110,000 from Pepe coin holdings while netting $45,000 and $44,000 from FLOKI and WLD respectively.
According to crypto analysts, the trader suffered losses at some point to due price swings after Bitcoin traded below $55K. The drop in Bitcoin price sparked a decline in altcoins and meme coins as the wider market faced a slight correction. Following the Federal Reserve’s decision to slash policy rates by 50 BPS on Sept 18, prices of crypto assets surged leading to traders looking to make a profit.
Generally, whale movements send a bearish signal to the market due to their total number of holdings with smaller traders moving in the same direction. Recently, the market has seen similar movements from traders to reposition assets amid price swings. This week, an Ethereum whale dumped $38 million worth of ETH sparking negative pressure.
What’s Next For The Assets?
The crypto market is soaring off the Fed’s decision to cut interest rates. Several traditional investors projected growth in the market after the September rate cuts as funds flow to risky assets. At press time, the total market cap is up 6% with the market cap hitting $2.1 trillion. In the last 24 hours, PEPE surged 13%, alongside other meme coins.
FLOKI price is up 10% in the same time frame while Worldcoin moved up 8%. Most commentators point to increased gains in the price of crypto assets as macro factors flip positive.
David Pokima
David is a finance news contributor with 4 years of experience in Blockchain Technology and Cryptocurrencies. He is interested in learning about emerging technologies and has an eye for breaking news. Staying updated with trends, David reported in several niches including regulation, partnerships, crypto assets, stocks, NFTs, etc. Away from the financial markets, David goes cycling and horse riding.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Altcoins
‘Coming in Hot’ – Top Trader Predicts Rallies for PEPE and One Solana Rival, Says Hard To Be Bearish on Many Altcoins
Published
4 days agoon
September 16, 2024By
adminAn analyst known for making crypto bottom calls thinks that memecoin Pepe (PEPE) and one Solana (SOL) challenger are gearing up for breakout rallies.
Pseudonymous analyst Bluntz tells his 273,500 followers on the social media platform X that PEPE and Sei (SEI) are among the market’s leaders after breaking out of bullish reversal patterns.
“Many altcoins with blatant in-your-face accumulation going on here, extremely hard to be bearish in my opinion.
SEI and PEPE are some standouts, in my opinion.”
Looking at SEI, the trader appears to suggest that the Solana rival has broken out from a rounding bottom pattern. The technical formation is often viewed as a bullish reversal pattern as it indicates that investors have accumulated the asset without allowing the price to move lower.
At time of writing, SEI is trading for $0.30, down 1.44% on the day.
As for PEPE, the trader shares a chart suggesting that the meme token has broken out from an inverse head-and-shoulders pattern, another bullish reversal formation. The pattern coincides with the conclusion of an ABC corrective wave, which suggests that an asset is poised for a surge.
“PEPE coming in hot with the accumulation break.”
At time of writing, PEPE is worth $0.0000078, a 1.2% decrease in the last 24 hours.
Turning to Bitcoin, the analyst believes that BTC is close to sparking rallies amid rising liquidity injections from the Federal Reserve.
“You didn’t fade the Fed liquidity injection because of ‘mUH SePTemBeR iS TypIcaLLy BeARiSh’ did you anon? BTC.”
Traders typically see liquidity influxes as a bullish signal as it indicates that there’s more capital that could be invested in risk assets such as Bitcoin and crypto.
Bluntz previously predicted that Bitcoin will rally to a new all-time high around the $100,000 level.
“Still my base case for BTC, bears are about to get murdered in my opinion.”
At time of writing, Bitcoin is trading for $60,200, a slight dip in the last 24 hours.
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Ethereum blockchain
Turn $1000 into $10000 With These 5 Ethereum Tokens
Published
6 days agoon
September 14, 2024By
adminThe Ethereum tokens landscape is brimming with potential, especially with assets like Shiba Inu (SHIB), Pepe (PEPE), Arbitrum (ARB), Render (RNDER), and Ondo (ONDO). These tokens could turn a $1000 investment into $10000, providing diverse opportunities for portfolio growth. Each offers unique prospects in the vibrant Ethereum ecosystem.
Ethereum Tokens
Shiba Inu Coin (SHIB)
Shiba Inu (SHIB), a cryptocurrency inspired by memes, has soared in the DeFi sector. This digital coin, hosted on the Ethereum tokens, recorded a 90% value increase over the past year.
Currently, SHIB price trades at $0.00001375, with a modest gain of 0.39% today. Factors like heightened trading volumes, ongoing token burns, and the introduction of Shibairum contribute to its recent success. These enhancements make SHIB an appealing option for investors looking for notable returns in the meme coin market.
The green line representing SHIB’s price exhibits significant fluctuations correlating with the red bars, indicating whale transactions exceeding $100,000.
Such data suggests that major transactions have periodically fueled a bullish trend, although the overall price movement remains downward. This activity may hint at the influence of large stakeholders on market dynamics, prompting fluctuations within specific periods.
Pepe (PEPE)
Pepe (PEPE), an Ethereum-based meme coin, aims to mirror the viral success of tokens like Shiba Inu and Dogecoin. It is emerging as a dominant figure in the meme cryptocurrency arena. As of reporting time the PEPE price is $0.000007804, marking a 5% increase in the last day.
This rise has become the leading meme coin today on CoinMarketCap. Over the previous week, its price climbed by 13%. Over the past year, PEPE has surged by 1044%, potentially turning a $1000 investment into $10000.
Render (RNDER)
Render (RNDR), an Ethereum-based token, is reshaping digital content creation with its innovative, decentralized network. Leveraging OctaneRender technology, Render connects individuals requiring rendering services with GPU owners who have unused capacity.
This year, RENDER price skyrocketed by 241%, hitting a peak of $5.23. This surge underscores a growing interest in AI-based cryptocurrencies and marks RENDER as a valuable player in the Ethereum landscape.
Ondo (ONDO)
Ondo (ONDO), a digital currency built on Ethereum, significantly influences the Ondo DAO’s operations. This decentralized autonomous organization strives to democratize sophisticated financial tactics for wider access.
The spotlight on Ondo Finance intensifies as BlackRock explores the tokenization of tangible assets. Presently, ONDO trades at $0.6365, reflecting a 1% increase. Over the last year, its value has escalated by 292%, transforming a $1000 investment into $10000 with Ethereum tokens.
According to Coinglass data, the trading activity for ONDO has shown significant movement. Volume has surged by 14.39%, reaching $86.49 million. Meanwhile, Open Interest has also seen a notable increase of 2.26%, climbing to $83.14 million. These figures highlight a growing interest and active trading environment for ONDO in the financial markets.
Arbitrum (ARB)
Arbitrum (ARB), a notable Ethereum Layer 2 enhancement, leverages optimistic rollups to streamline transactions and bolster scalability. This technology hastens processing speeds and reduces costs, upholding Ethereum’s fundamental security traits.
These features make ARB a leading choice among Ethereum-related investments. Recently, the Arbitrum token saw its market value increase by 2%, reaching a new price of $0.529.
The Moving Average Convergence Divergence (MACD) shows a minor bullish crossover as the signal line (orange) moves above the MACD line (blue), hinting at potential upward momentum. However, the MACD bars remain close to the baseline, suggesting that any upward trend might not be strong.
Furthermore, the Relative Strength Index (RSI) is at 54, signifying a neutral market without strong buying or selling pressure.
These Ethereum tokens bolster the vibrant cryptocurrency market and offer promising avenues for substantial financial growth. Investors keen on multiplying their initial stake have a golden opportunity to thrive within this dynamic digital landscape.
Frequently Asked Questions (FAQs)
Ondo Finance is a decentralized autonomous organization that democratizes complex financial strategies, potentially increasing the value of ONDO tokens as the platform gains traction and utility.
Optimistic rollups help in scaling Ethereum by allowing transactions to be processed more quickly and cheaply while maintaining the security properties of the Ethereum mainnet.
Factors include technological innovation, community support, market trends, and integration in decentralized applications (dApps).
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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