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Pepe Coin (PEPE)

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

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2 months ago

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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

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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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BTC Drops Below $100K, LINK Gains 6%

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2 weeks ago

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December 9, 2024

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The crypto prices today exhibited bearish momentum, with Bitcoin (BTC) and major altcoins declining. XRP recorded a 5% drop, making it the worst performer among the top 10 cryptocurrencies. In contrast, Chainlink (LINK) emerged as the top gainer, with a 6% rise in the last 24 hours.

Overall market capitalization decreased by approximately 2% to $3.65 trillion. Trading volume increased by 2% to $155 billion. These trends reflect the fluctuating nature of crypto prices today.

Here’s a brief overview of some leading cryptocurrencies by market cap and their prices today, December 9.

Crypto Prices Today: BTC at $99K, ETH, XRP, SOL Drop

Bitcoin (BTC) price suddenly fell by $2,000, dropping from $101,000 to $99,000. Major altcoins followed Bitcoin’s downward trend, declining by 2% to 5%. Meme coins also faced a bearish momentum, with prominent coins like Dogecoin (DOGE) and Shiba Inu (SHIB) showing losses of 2% to 4%. Crypto prices today indicate a market-wide pullback, reflecting cautious investor sentiment.

Bitcoin Price Today

Bitcoin (BTC) price was trading at $99,245 at the time of writing, marking a 1% decline over the past 24 hours. Its 24-hour low and high were $98,698 and $101,324, respectively. Bitcoin’s market capitalization stood at $1.96 trillion, with a trading volume of $50 billion and a market dominance of 54.03%.

In related developments, Bitcoin entered a boom phase following Donald Trump’s victory in the U.S. presidential elections. The Trump administration is reportedly considering creating a strategic Bitcoin reserve for the country. Additionally, MicroStrategy‘s Founder and Chairman, Michael Saylor has entered the discussion surrounding the proposed Bitcoin reserve, drawing significant attention from the crypto community.

Ethereum Price Today

Ethereum (ETH) price was trading at $3,951, with a 24-hour low of $3,925 and a high of $4,015. Its market capitalization stood at $475 billion, with a 24-hour trading volume of $24 billion. Ethereum holds a market dominance of 13% and remains the second-largest cryptocurrency by market cap. As crypto prices today show strong momentum, Ethereum continues to be a major player in the market.

XRP Price Today

XRP price was trading at $2.489, with a 24-hour low of $2.469 and a high of $2.639. Its market capitalization stood at $142 billion, with a 24-hour trading volume of $11 billion. XRP had a market dominance of 3.91%, reflecting its position within the top cryptocurrencies by market cap.

Solana Price Today

SOL price was trading at $232, with a 24-hour low of $231 and a high of $241. Its market capitalization stood at $110 billion, with a 24-hour trading volume of $3 billion. Solana is now ranked 5th by market cap, with a market dominance of 3%. Crypto prices today showed moderate fluctuations for Solana, reflecting its ongoing market performance.

Crypto analysts are predicting that Solana could reach $420 during the upcoming festive season. This projection is based on expected increased demand and positive market sentiment surrounding the token.

Meme Crypto Prices Today

Top meme coins have also followed the broader market trend, showing a decline. DOGE was down by 2%, trading at $0.45, while SHIB fell by 4%, now trading at $0.00003131. Other popular meme coins like BONK and WIF saw losses between 4% and 6%. However, PEPE was an exception, recording a 4% increase, trading at $0.00002684.

In a positive development for Shiba Inu, its Layer-2 scaling solution Shibarium reached a significant milestone, crossing the 2 million wallet mark 16 months after its launch. Crypto prices today reflected a mixed performance in the meme coin market, with some coins experiencing minor gains while others continued to decline.

Top Crypto Gainer Prices Today

Chainlink (LINK) price was the top gainer in the last 24 hours, seeing an 8% increase. It was trading at $26.82, with a 24-hour low of $24.71 and a high of $27.22. With a market capitalization of $17 billion, LINK remains among the top 20 cryptocurrencies by market cap reflecting its strong performance in the market.

Mantle

Mantle (MAN) price was trading at $1.20, up by 5% in the last 24 hours. Its 24-hour low and high were $1.16 and $1.34, respectively. The market cap stands at $4 billion.

Pepe

Pepe (PEPE) price was up by 4%, trading at $0.0000266, with a 24-hour high of $0.00002746. Its market cap stands at $11 billion.

Top Crypto Loser Prices Today

Peanut the Squirrel

Peanut the Squirrel (PNUT) price was down by 12% in the last 24 hours, trading at $1.39. Its market cap stands at $1.38 billion. Crypto prices today show this as the worst performer among top coins.

EOS

EOS (EOS) price was trading at $1.26, down by 7% in the past 24 hours. Its 24-hour low and high were $1.25 and $1.34, respectively. Its market cap stands at $1.9 billion.

Jupiter

Jupiter (JUP) price was trading at $1.29, down by 6% from the last 24 hours. Its 24-hour high was $1.38, with a market cap of $1.75 billion. It was the third-worst performer among crypto prices today.

The hourly chart looks bearish for the crypto market, with major altcoins down in the last hour. Bitcoin (BTC) was down by approximately 1%, and macro altcoins saw declines ranging from 0.5% to 2%. Crypto prices today reflect the downward momentum in the market, indicating short-term pressure on the leading cryptocurrencies.

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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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Pepe Coin Whales Continue To Accumulate Signaling 7x Gains For PEPE Looms

Published

3 weeks ago

on

December 4, 2024

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Pepe Coin whales’ constant accumulation of the frog-themed meme token amid a bull cycle has birthed an optimistic wave among investors globally. On Wednesday, on-chain data indicated that a whale continued bagging the meme token, accumulating a total of 337.09 billion PEPE to date. Simultaneously, with other stats indicating heightened market interest in the asset, a potential 7x pump remains much awaited by market enthusiasts across the crypto landscape.

Pepe Coin Whale Accumulation Upbeat, Crypto Market Bullish

As per data by Lookonchain, Pepe Coin whales continue to accumulate the frog-themed meme token, indicating increased market interest. Notably, the wallet address 0x160…b5B bought 337.09 billion PEPE, worth $6.92 million, from Binance over the past 20 days. This massive accumulation, in turn, set off optimistic waves for the token, flagging heightened buying pressure.

Simultaneously, Etherscan data showcased a gradual rise in the asset’s holders at the time of reporting. Per the data, nearly 334,000 addresses held Pepe Coin, sparking optimism amid a bullish Q4 crypto market.

Etherscan data on Pepe Coin Etherscan data on Pepe Coin

Also, it’s worth mentioning that this one of the top meme coins was recently integrated into custody on Coinbase Prime. This enhanced offering further paves the way for money to inflow into the token, attracting a wide range of investors. Simultaneously, the frog-themed meme crypto’s ongoing bull run reflects market bullishness in the wake of the heightened buying and enhanced offerings.

PEPE Price To Surge 7x?

At the time of reporting, PEPE price was up nearly 0.5% and traded at $0.00002065. Its intraday low and high were $0.00001908 and $0.00002104, respectively. Further, the weekly and monthly charts for the coin showcased gains worth 12% and 154%, respectively. Altogether, the bullish trajectory, followed by increased buying, has solidified investors’ optimism surrounding further gains for the meme token.

Intriguingly, a recent PEPE price analysis by CoinGape pointed out that the meme coin could further rally 7x, phenomenally extending gains. This bullish analysis also rides the back of rising Pepe Coin whale accumulations, as over 10 trillion tokens were reported to be accumulated.

Overall, the abovementioned stats paint a highly bullish scenario for the frog-themed meme token, indicating more gains possible in light of burgeoning market interest. Market watchers continue to eye the coin, primarily reflecting bullish sentiments over future movements.

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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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Super Pepe Coin Whale Sells 130B PEPE, Shifts Focus To EIGEN

Published

4 weeks ago

on

November 25, 2024

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Amid a highly turbulent crypto market witnessed as the week kicks off, a super Pepe Coin whale shifted focus to EIGEN has sparked significant market discussions. Notably, on-chain data pointed out a massive 130 billion PEPE whale selloff, with the investor simultaneously diversifying his portfolio by buying over 200K of the Ethereum-based token.

This swap of positions, amid a slumping action witnessed by the meme coin and a gaining action seen by the EigenLayer ecosystem token, set off waves of speculations over the coins’ future tendencies.

Super Pepe Coin Whale Refocuses Investments, Buys EIGEN

According to whale data by Spot On Chain as of November 25, a super whale sold 74.07 billion in Pepe Coin worth $1.53 million for 448.1 ETH as the price dropped recently. The same whale was recorded offloading 130.2 billion of the meme coin, worth $2.71 million, for 891 ETH over the past three days. Although this massive selling caused market tension, it’s noteworthy that the super whale still holds 3.241 trillion Pepe Coin, with a 12.6x profit of $68.3 million.

However, the same whale also focused on buying EIGEN, swapping 181.3 ETH for 217,348 of the Ethereum-based token over the past two days. The whale currently holds 1.608 million of the EigenLayer token, worth $4.31 million, with an 11% profit. Overall, the trade swap sparked significant optimism over the EigenLayer ecosystem’s primary token, while market watchers monitor the leading meme coin closely.

PEPE & EIGEN Prices Show Mixed Actions

While the meme coin’s price slipped, aligning with the selloff by super Pepe Coin whale, the Ethereum-based coin rose, leveraging buying pressure. PEPE price was down 2% intraday and 5% weekly, trading at $0.00002026. Its 24-hour low and high were $0.00001918 and $0.00002086, respectively.

Whereas, EIGEN price soared nearly 7% intraday and 23% weekly, reaching $3.06. The coin’s 24-hour low and high were $2.56 and $3.07, respectively. While crypto market participants remain optimistic about the Ethereum-based token in light of the massive accumulation, the remaining massive PEPE holdings add a layer of intrigue to the leading meme coin’s price action ahead.

Intriguingly, a recent Pepe coin price analysis by CoinGape Media flagged that the meme coin eyes a $0.000025 target, with significant potential upside for further momentum. This optimistic projection comes against the backdrop of bullish technical formations on the frog-themed crypto’s price chart. Market watchers continue to eye both coins for future price action shifts as the broader market continues to showcase price fluxes.

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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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