Connect with us

Pepe Coin (PEPE)

Analyst Forecast Final Dip For Pepe Coin Price Before 30% Surge

Published

4 hours ago

on


During Tuesday’s trading session, the crypto market saw substantial inflows as Bitcoin surged past the critical $70,000 level. Amid this renewed momentum, the meme coin sector, known for its volatility, displayed notable moves. In particular, the frog-themed meme coin jumped 3.7%, testing a four-month resistance. However, analysts suggest a final dip in Pepe coin price may occur before a major rally unfolds.

Pepe Coin Price Poised for Final Dip Ahead of Projected 30% Rally

In a recent tweet, market analyst CryptoDoc highlights the Pepe coin price resonating mainly within two converging trendlines of the daily chart. This consolidation reveals the formation of a bullish continuation pattern called a symmetrical triangle pattern. 

Theoretically, the converging trendlines provide a temporary break for the prevailing trend to build its momentum before the next. In the last four days, the Pepe price rebounded from the pattern’s support trendline at $0.0000084 to $0.00000852, registering a 13% jump. Consequently, Pepe’s market cap surged to $4.01 billion.

Despite the bullish trajectory, the analyst predicts a small retest or final dip to the green zone support, coinciding with the pattern’s lower trendline.

If history repeats, the bottom support should replenish the bullish momentum for the PEPE price and push it to nearly 17% to challenge the overhead resistance. A successful flip of this overhead trendline into potential support could push the asset to $0.000012, registering an almost 30% growth.

PEPE pricePEPE price
CryptoDoc

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

Traders Back Bulls as Funding Rate and Open Interest Surge

According to data from Coinglass, the open interest (OI)-weighted funding rate has recently surged to $0.0139, indicating that buyers are paying a premium to maintain their long positions. This spike suggests a strong bullish sentiment in the market, with buyers showing confidence in further price appreciation.

PEPE OI-Weighted Funding Rate

Additionally, the futures open interest has shown a recovery trend, climbing from a recent low of $60.566 million to its current level of $132.7 million, marking a 119% percentage growth. Elevated open interest levels typically signal heightened trading activity, amplifying market movements and potentially contributing to increased volatility.

Pepe Coin pricePepe Coin price
Futures Open Interest | Coinglass

On the contrary, if sellers breach the bottom trendline, the bearish momentum will invalidate a breakout thesis to drive an extended consolidation.

Frequently Asked Questions (FAQs)

The OI-weighted funding rate recently surged to $0.0139, suggesting that buyers are paying a premium to maintain their long positions

If sellers breach the bottom trendline of the symmetrical triangle, it would indicate a shift in momentum, invalidating the breakout thesis and potentially leading to extended consolidation.

Analysts expect a brief dip in Pepe Coin’s price to test support and regain bullish momentum. This dip is seen as a setup for a potential 30% rally

✓ 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
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

24/7 Cryptocurrency News

BTC Tops $66K, Altcoins Mirror Bullishness

Published

1 month ago

on

September 28, 2024

By


The cryptocurrency prices on Saturday ignited substantial investor optimism across the globe. Bitcoin (BTC) price gained to cross the $66K level today, while Ethereum (ETH), Solana (SOL), and XRP mirrored an upward trajectory. Simultaneously, Pepe Coin (PEPE) led the broader market gains, soaring nearly 20%.

Meanwhile, the global crypto market cap jumped 2.43% over the past day to $2.33 trillion. However, the total market volume witnessed an 8.26% decline in value to $78.21 billion today. Here’s a brief collection of some of the top cryptocurrencies by market cap and their price run on September 28.

Cryptocurrency Prices Today: BTC, ETH, SOL, & XRP Pump

BTC price topped the $66K level today, whereas ETH neared $2,700. Simultaneously, SOL and XRP prices gained 1-3% in the past 24 hours. Whereas, PEPE, NOT, and FLOKI emerged among the day’s top gainers. Let’s take a closer look at the crypto prices today.

Bitcoin Price Today

BTC price gained 1.5% at the time of reporting and is currently trading at $66,093. The coin’s intraday low and high were recorded as $65,107.12 and $66,255.53, respectively. Today’s rising price action falls in line with the broader market trend. Also, it’s worth mentioning that spot Bitcoin ETFs recorded $494.45 million worth of inflows as of September 27, aligning with the pumping price action. However, Bitcoin’s dominance from yesterday slipped 0.20% to 56.13%. Besides, the flagship crypto’s market cap rested at $1.31 trillion today.

Ethereum Price Today

ETH price chart illustrated a nearly 2% increase in value to reach $2,691 today. The coin’s intraday low and high were recorded as $2,637.98 and $2,728.07, respectively. Notably, even spot Ethereum ETFs registered $58.65 million worth of inflows as of September 27, per Soso Value data. Ethereum’s market cap rested at $323.92 billion today. Whale Alert data for the past day indicated increased whale activity, adding to the intrigue surrounding the asset’s price movements.

Solana Price Today

The crypto SOL witnessed a 2% jump in price today and is currently trading at $158. The coin’s 24-hour low and peak were recorded as $155.68 and $160.98, respectively. Solana’s market cap rested at $74.38 billion today. A recent CoinGape Media report reveals that the coin’s price gained against the backdrop of bullish on-chain data for SOL.

XRP Price Today

Simultaneously, XRP price witnessed a 1% increase in value to reach $0.5904 today. The coin’s intraday low and high were recorded as $0.5853 and $0.597, respectively. XRP’s market cap rested at $33.38 billion today.

Meme Coins Performances Today

On the other hand, Dogecoin (DOGE) price gained nearly 6% in the past 24 hours to reach $0.1259. Similarly, Shiba Inu (SHIB) price soared roughly 10% in the past 24 hours to reach $0.00002097. Meanwhile, PEPE and FLOKI surfed along the day’s top gainers.

Top Cryptocurrency Gainers Prices Today

Pepe Coin

PEPE price surged by a whopping 20% in the past 24 hours and is currently trading at $0.00001135. The coin’s 24-hour low and high were $0.000009646 and $0.0000115, respectively.

Notcoin

NOT price mirrored a bullish sentiment, gaining nearly 16% to $0.00988 today. The crypto’s intraday low and high were $0.008649 and $0.01063, respectively.

FLOKI

FLOKI price noted a 10% uptick in value to reach $0.0001709 today. The coin’s 24-hour low and high were $0.0001571 and $0.0001763, respectively.

Top Cryptocurrency Losers Prices Today

Popcat

POPCAT price slipped over 5% to rest at $0.9436 today. Its 24-hour low and high were $0.9169 and $1.08, respectively.

eCash

XEC price waned nearly 4% over the past day to reach $0.00003823. The coin’s intraday low and high were $0.00003779 and $0.00003941, respectively.

Sei

SEI price noted a 3% decrease in value to reach $0.4566 today. The coin’s intraday low and high were $0.4545 and $0.4796, respectively.

Besides, the hourly time frame charts sparked further speculations over the cryptocurrency prices today. BTC waned 0.04%, while ETH gained 0.02%, igniting uncertain investor sentiments across the broader market.

✓ Share:

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.





Source link

Continue Reading

Optimism

Top 3 Whale-Favored Crypto to Rally 5X In Q4

Published

2 months ago

on

September 7, 2024

By


The crypto market signals the continued correction as the falling Bitcoin and Ethereum breached crucial support of $55000 and $2500 on Friday, respectively. Despite the bearish momentum, the whales’ confidence in altcoins like Toncoin (TON), Optimism (OP), and Pepe Coin (PEPE).

How Whale Accumulation Signals Crypto Market Bottoms

Whale activity has been a crucial metric in the cryptocurrency market, often indicating large holders’ buying and selling behavior. Generally, an active accumulation trend by these smart money has coincided with major market bottoms, indicating key indicators for top crypto to buy.

Toncoin (TON)

Toncoin, the crypto associated with Telegram, has recently gained market attention following reports of Telegram founder Pavel Durov’s alleged arrest in France. On September 6th, Durov issued a statement criticizing the French authorities and the arrest drama. He clarified that the media misrepresented the events and emphasized that Telegram remains committed to privacy and neutrality.

By press time, the TON price had traded at $4.6 and held a market cap of $11.76 billion.

Despite the legal challenges, the whale interest in Toncoin remains stable, as addressed with 1 Million to 10 Million TON now accounting for a total of 3.18 million coins, according to Santiment data.

TON Supply DistributionTON Supply Distribution
TON Supply Distribution

Pepe Coin (PEPE)

The Frog-themed crypto PEPE shows a notable correction from $0.000017 to $0.000007— a 60% drop within four months. While this correction must have scared the short-term speculative traders, the large holders steadily accumulated this asset.  

Supply distribution data shows that whales holding 10,000,000 to 100,000,000 PEPE steadily increased their holdings to a peak of 3.64T coins.  This consistent accumulation signals that large holders anticipate a potential reversal in the PEPE coin. 

By press time, the PEPE price had traded at $0.0000069, boosting a market cap of $2.94 billion.

PEPE Supply DistributionPEPE Supply Distribution
PEPE Supply Distribution | Santiment

Optimism (OP)

Optimism (OP), a layer-two blockchain on top of Ethereum, projected an aggressive correction from $4.85 to $1.42— a 70% decline in six months. However, the downward trend gradually shifts sideways as the $1 psychological level sparks renewed demand pressure. 

According to Santiment data, whale addresses holding between 1M to 10M OP have significantly increased their holdings, reaching a peak of 672 million coins. This aggressive accumulation suggests growing confidence in the Optimism coin as it aims to strengthen its position above $1 support before the next leap.

With an intraday gain of 6%, the OP price trades at $1.4 and boasts a market cap of $1.68 Billion. 

Frequently Asked Questions (FAQs)

Whale activity is a key indicator of market bottoms and buying opportunities, with active accumulation often signaling a potential rebound in assets like TON, PEPE, and OP.

Whale holdings of 10M to 100M PEPE coins have peaked at 3.64T, indicating expectations of a price reversal after its 60% drop.

$1 level stands as crucial psychological support for OP price

✓ 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

Continue Reading

24/7 Cryptocurrency News

Pepe Coin Whale Bags 9 Tln Coins, PEPE Price Breakout Ahead?

Published

2 months ago

on

September 4, 2024

By


A recent Pepe Coin whale transaction has caught the eyes of investors today, with the PEPE price rising around 1% during writing. According to reports, a whale has purchased a massive amount of the crypto, signaling increasing confidence toward the leading meme coin. This move has sparked speculations over a potential breakout for the crypto, considering the growing market interest.

Pepe Coin Whale Buys 9 Trillion Coins

The leading on-chain transaction tracking platform, Whale Alert reported that an unknown whale moved 9 trillion PEPE from Bybit, one of the top crypto exchanges. The wallet address “0x88a…3Ade3” conducts the transaction, valued at over $64.55 million, showcasing robust confidence in the meme coin.

This substantial accumulation has caught the eyes of crypto market enthusiasts, fueling speculations over a potential price breakout. In addition, the bold move by the whale suggests growing optimism in the market, with many seeing it as a sign of renewed investors’ confidence in the leading meme coin’s potential.

Meanwhile, with this massive move, market analysts are keeping a close watch on the crypto’s price action. In addition, a flurry of market watchers are considering this significant whale move as a catalyst for a potential price breakout.

PEPE Price Breakout Ahead?

The sentiment on the leading meme coin appears to have faded lately, especially since May end of this year, when the crypto touched an all-time high of $0.00001718. In addition, the latest volatile scenario in the broader financial sector as well as in the crypto market also weighed on the meme coin’s performance.

As of writing, the PEPE price was up 0.93% to $0.000007298, with its trading volume soaring 45% to $521.55 million. Over the last 24 hours, the crypto has touched a high of $0.000007512 and a low of $0.000006896, indicating a highly volatile trading scenario. Besides, CoinGlass data showed that crypto’s Futures Open Interest dropped 6.46% to $81.14 million, indicating a still-bearish sentiment hovering in the market.

However, the latest Pepe Coin price analysis showed that recently a bullish signal flashed on the crypto’s weekly chart, which could trigger a rally of 260% in its price. In addition, it also showed that the last time the signal was spotted, the leading meme coin had rocketed 1600% in 98 days. Notably, according to the analysis, the meme coin could rally to a new high of $0.00001872 if it breaks a key resistance.

✓ Share:

Rupam Roy

Rupam, a seasoned professional with 3 years in the financial market, has honed his skills as a meticulous research analyst and insightful journalist. He finds joy in exploring the dynamic nuances of the financial landscape. Currently working as a sub-editor at Coingape, Rupam’s expertise goes beyond conventional boundaries. His contributions encompass breaking stories, delving into AI-related developments, providing real-time crypto market updates, and presenting insightful economic news. Rupam’s journey is marked by a passion for unraveling the intricacies of finance and delivering impactful stories that resonate with a diverse audience.

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

Continue Reading
Advertisement [ethereumads]

Trending

    wpChatIcon