Connect with us

PEPE

Will Pepe Coin Price Rally to $0.000015 In October?

Published

2 months ago

on


During Monday’s trading session, the Pepe coin price saw a 3% drop, retesting the crucial $0.00001 support level. This bearish movement aligned with Bitcoin’s fall below the $65,000 mark, sparking a corrective phase across several major altcoins. Despite this, PEPE is set for a sharp recovery, driven by accumulation and the completion of a bullish pattern.

Can PEPE Coin Price Surge to $0.000015 by October?

Within a month, the PEPE coin price rallied $0.00000633 to $0.0000119— an 89% increase. This bullish reversal managed to reclaim crucial daily EMAs (20, 50, 100, and 200), signaling a positive change in market sentiment.

A deeper analysis of the daily chart shows this reversal breached the resistance trendline of a falling wedge pattern. This chart pattern drove a steady correction within two converging trendlines for four months before offering a breakout.

The post-rally aligned with the late September rally pushed the asset to a $0.0000119 high before reverting to $0.0000108. The coin price is poised for temporary consolidation or pullback to $0.00001 and recuperates the bullish momentum.

The post-breakout rally could bolster the asset for $0.0000135 before surpassing the $0.000015 mark.

Pepe Coin PricePepe Coin Price
PEPE/USDT -1d Chart

According to Santiment data, large wallet holders possessing between 100 million and 1 billion PEPE coins have actively accumulated, pushing their holdings to a staggering 13.51 trillion coins. This significant increase in accumulation suggests that whales are positioning themselves for a potential price surge, indicating growing confidence in future price growth.

PEPE (PEPE)PEPE (PEPE)
Whale Accumulation| Pepe (PEPE)

Check out the article on top meme coins to buy for a detailed analysis.

PEPE Coin Faces Potential Downturn as 30-Day MVRV Hits 38.7%

The Santiment analytics shows the 30-day MVRV (Market Cap to its Realized Cap) ratio recently spiked to 38.7%, indicating that short-term traders are in profit. Typically, the high value coincides with the market top, and speculative traders commence profit booking,

Thus, if the Pepe coin price breaks below the $0.00001 support, the sellers could accelerate the bearish momentum for the prolonged fall.

Pepe (PEPE)Pepe (PEPE)
30-day MVRV Ratio

Conclusion: 

If the PEPE price post-rally correction manages to sustain above the $0.00001 level by mid-October, a recovery toward $0.000015 is likely.

Frequently Asked Questions (FAQs)

If the PEPE price sustains above the $0.00001 support by mid-October, a recovery toward $0.000015 is likely, supported by accumulation and bullish momentum.

The 30-day MVRV ratio spiked to 38.7%, signaling that short-term traders are in profit, which often coincides with a market top and may lead to profit booking by speculative traders

The breakout from a falling wedge pattern and a bullish crossover between the 20- and 100-day EMAs indicate a potential end to the four-month correction

✓ Share:

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.





Source link

Related Topics:
Continue Reading

Bitcoin

$2 Million PEPE Purchase Sees 105 Billion Tokens Snapped Up

Published

1 day ago

on

November 21, 2024

By


They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!

So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.



Source link

Continue Reading

Altcoins

‘Time Has Come’ – Top Trader Predicts More Rallies for Dogecoin, Updates Forecast for Bitcoin and PEPE

Published

5 days ago

on

November 18, 2024

By


An analyst who has earned the “Master Trader” rank on the crypto exchange Bybit believes top memecoin Dogecoin (DOGE) is primed for more rallies.

Pseudonymous analyst Bluntz tells his 291,000 followers on the social media platform X that Dogecoin appears to have completed an ABC corrective wave against Bitcoin (DOGE/BTC).

The trader practices Elliott Wave theory, which states that a bullish asset tends to witness a five-wave upside move after an “ABC” correction.

Says Bluntz,

“DOGE/BTC looking sendy again, swept the A wave lows and looks like a clear ABC down move now done.

I have been waiting for this one to cool off to start bull posting again and I think the time has come.”

Image
Source: Bluntz/X

Looking at the trader’s chart he seems to predict that DOGE/BTC will soar to as high as 0.000008 BTC ($0.73). At time of writing, DOGE is trading at $0.365.

Turning to Bitcoin itself, the analyst believes that BTC has started a fresh five-wave surge in the lower time frame, targeting $100,000.

“So far so good.”

Image
Source: Bluntz/X

At time of writing, Bitcoin is trading for $90,227.

As for the memecoin Pepe (PEPE), Bluntz says that the altcoin is likely en route to $0.00003.

“Don’t fade the magic PEPE squiggles.” 

Image
Source: Bluntz/X

At time of writing, PEPE is worth $0.0000214.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney
Shutterstock/MrArtHit





Source link

Continue Reading

PEPE

PEPE Upsurge Stalls At Key Resistance, Eyeing Support At $0.00001152

Published

2 weeks ago

on

November 11, 2024

By


PEPE rally has come to an abrupt halt, as the price faces rejection at resistance and begins its descent toward the key support level of $0.00001152. After a strong upward push, the token has encountered significant selling pressure, raising concerns about the sustainability of its bullish strength. Now, all eyes are on the $0.00001152 mark to determine if it can support a rebound or if this is the beginning of a deeper pullback.

This article aims to navigate PEPE‘s recent price action as it encounters resistance, causing the rally to stall and the price to fall toward the crucial support level of $0.00001152. Through technical analysis, this piece assesses whether $0.00001152 will serve as a reliable support zone for a potential recovery or if the bearish pressure will push PEPE further downward. 

Resistance Strikes: What Halted Momentum Of PEPE?

Recently, PEPE’s price has turned bearish on the 4-hour chart, pulling back towards the $0.00001152 mark and the 100-day Simple Moving Average (SMA) after facing significant resistance at $0.00001313. This retracement signals growing bearish pressure, which could trigger a deeper correction for the cryptocurrency.

PEPE

The 4-hour Relative Strength Index (RSI) shows a decline from 77% to 60%, indicating a weakening of upbeat momentum. As the RSI moves closer to neutral, buying pressure has subsided, and the market’s confidence in the uptrend is fading. Specifically, this shift suggests that PEPE may be entering a correction phase, with the potential for further downward movement if the trend continues.

Although PEPE is trading above the 100-day SMA, the daily chart shows increasing negative sentiment with bearish candlesticks and a decline toward $0.00001152, reflecting rising selling pressure as the meme coin struggles to hold higher levels. If bulls don’t defend the current support, additional declines are possible, making the 100-day SMA critical to watch for a reversal or continued correctional movement.

PEPE

Finally, on the 1-day chart, the RSI is declining from its peak of 69%, indicating a potential shift in momentum. As the RSI nears the overbought threshold of 70%, this shows that buying pressure is easing, and the recent uptrend may be losing strength. The drop could signal a pullback or consolidation, with PEPE possibly entering a correction phase before attempting to regain upside pressure.

Can The $0.00001152 Level Hold As Support?

The market is testing its strength as PEPE’s price approaches the key support level of $0.00001152. This level has become crucial in determining whether the current bearish momentum will continue or if the price can stabilize. Should $0.00001152 hold, it may provide a foundation for a possible rebound, allowing bulls to regain control and resume the upside trend.

However, a breakdown below this level could signal additional declines, which could push the price toward the $0.00000766 support range and other lower levels.

PEPE



Source link

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon