PEPE

PEPE Bullish Trend Line Under Threat: $0.00000766 Level On Sight?

Published

3 months ago

August 2, 2024

PEPE, one of the top meme coins in the crypto space, is currently at a crucial point as it approaches its long-standing bullish trend line. As the price draws near the bullish trend line, a break below it could signal a major shift in market sentiment, triggering a price draw down to the $0.00000766 mark.

This article provides an in-depth analysis of the current price action, focusing on the bullish trend line. It examines whether a potential break below this line could drive the price to the critical support level at $0.00000766 or if a potential reversal is on the horizon.

As of the time of writing, PEPE’s price has dropped by 5.10%, trading at approximately $0.00001005 in the past 24 hours. PEPE boasts a market capitalization exceeding $4.2 billion and a trading volume surpassing $821 million. The asset’s market cap has decreased by 5.32%, while its trading volume has increased by 35.01% in the past 24 hours.

Technical Analysis: Current Market Sentiment For PEPE

On the 4-hour chart, PEPE has demonstrated significant bearish momentum, with the price dropping below the 100-day Simple Moving Average (SMA) and the $0.00001152 support mark, signaling a potential bearish move toward the bullish trend line. A successful breach below this trend line could signal the start of a bearish trend for the cryptocurrency, potentially driving the price down to the next key support level at $0.00000766.

Additionally, on the 4-hour chart, the Relative Strength Index (RSI) signal line has dropped below 50% and is approaching 30%, which is considered the oversold zone. This movement indicates increasing bearish momentum and suggests that selling pressure is intensifying.

Technical analysis on the 1-day chart reveals that, following the rejection at $0.00001313, PEPE has been on a bearish trajectory toward the bullish trend line, marked by the formation of multiple bearish candlesticks. Furthermore, the crypto asset’s price is trading below the 100-day SMA, suggesting a bearish market sentiment.

The signal line of the 1-day RSI indicator has recently dropped below 50% and is moving toward the oversold zone, suggesting that the digital asset may continue its bearish trajectory below the 100-day SMA toward the bullish trend line.

Navigating Potential Breakdowns And Bounces At The Trend Line

PEPE is currently on a bearish path while approaching its long-standing bullish trend line. A successful break below this trend line could indicate the beginning of a bearish trend, potentially driving the asset toward the $0.00000766 support level and beyond.

However, if PEPE bounces back at the bullish trend line, it could retrace towards its previous high of $0.00001152. Should the crypto asset break above this level, it could signal a further upward movement, possibly targeting the $0.00001313 resistance range and other higher levels.

Featured image from iStock, chart from Tradingview.com

Source link

PEPE

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

Published

3 days ago

November 11, 2024

admin

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.

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.

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

Dogecoin

How many Pepe coins are there? Current supply & future outlook

Published

3 weeks ago

October 21, 2024

admin

Launched back in April 2023, Pepe took only a short time to become one of the most popular meme coins in the world of crypto and one of the top ones alongside the likes of Doge, Shib, and others. At the time of writing, Pepe sits at the 30th rank among thousands of cryptocurrencies in terms of market capitalization.

However, additional info is needed for any investor to make an informed buying or selling decision. Meme coins have different supply dynamics that include token burns, which can impact price trends and also the future of the meme coin.

In this article, we will discuss how many Pepe coins are there, the total Pepe token circulating supply, and what the future holds for this top-tier meme coin.

Pepe coin explained

‘Pepe the Frog’ meme came to life with the birth of Pepe as this meme coin’s name is now taken in the same breath as the top-tier memes including DOGE, WIF, and SHIB.

While most cryptocurrency projects have a tangible use case that affects their price in the crypto world, Pepe, like other meme coins has not only survived but also become big due to a large social media influence, virality, and most importantly, a loyal fan base of token holders.

Since its launch, Pepe has seen an all-time high of 0.00001730 which is almost a 2600% pump. At the time of writing, Pepe is trading at 0.00001023 which is only 68% below its all-time high.

How many Pepe coins are there? - 1 — Pepe all-time price chart | Source: TradingView

Total supply of Pepe coins

At the start, the Pepe circulating supply was 420.69 trillion tokens, and no additional tokens were added to this supply after the token’s launch. This is great because a fixed supply means that price cannot be majorly impacted by the founding team by adding more tokens to the total supply of the Pepe.

So the answer to how many Pepe coins are in circulation is the same as its fixed supply, i.e. 420.69 trillion coins. However, to further create demand, supply has to be reduced and for this purpose, the Pepe founding team often burns its token supply periodically. Last month on October 24, 2023, 6.9 trillion tokens were burned which led to a 20% rise in the Pepe token’s value.

Why Pepe’s supply matters to investors

In the current world we live in, a key metric on which we attract to everything is based on supply and demand. The lower the supply, the higher the demand for it. Since the Pepe team is not issuing any new tokens and also burning Pepe tokens periodically as explained above, it makes this whole process a deflationary mechanism which is attractive for investors.

A fixed supply of tokens creates scarcity which promotes demand, that also has a positive impact on price, considering all other important factors like market sentiments, trend, and constant development, remain in favor of the Pepe token.

Comparing Pepe’s supply to other cryptocurrencies

Meme coins require a strong community behind them to not only help them grow but also sustain for a long time in this volatile cryptocurrency market. While many meme coins do enjoy a good fan base in the crypto world, not many have the ideal set of token supply conditions for them to thrive long term.

Every meme coin has different supply dynamics and it is important to understand which one has better supply mechanisms as it plays an important part when deciding to invest in any meme coin project.

Here we will compare Pepe’s token supply to two of the most popular meme coins, Doge and Shiba Inu.

PEPE vs. DOGE Supply

Dogecoin has a total supply of 146.38 billion tokens, however, unlike Pepe, it is not fixed, which means more Doge coins can be minted and added to the total supply of Dogecoin. This is an inflationary model, while Pepe has a deflationary model, which may indicate that Pepe coin’s demand can increase over time as compared to Dogecoin, provided all other market conditions remain the same.

PEPE vs. SHIB Supply

Shiba Inu is another popular dog meme coin, but it has the largest supply when compared to Doge and Pepe, currently standing at 999.98 trillion tokens of which 589.26 trillion tokens are in circulation. The Shiba Inu team has a burn mechanism in place which is a similar strategy to the Pepe coin of burning tokens periodically to lower supply and increase demand among investors.

While Shib’s total supply is fixed, it is more than double of Pepe’s fixed supply of 420.69 trillion which may prove to be a disadvantage in the long run, considering other market conditions also remain the same.

FAQs

How many Pepe coins were initially released?

The Pepe team released 420.69 trillion coins which will remain fixed and no new tokens will be added to this fixed supply. A good portion of the token supply has been allocated for maintaining good liquidity on centralized exchanges as well.

How many Pepe coins are mined daily?

Unlike the Doge coin, there is no mining mechanism for Pepe coins as the supply is fixed. This ensures that the demand of Pepe coins stays at par with market sentiment, and also acts as a preventative measure against inflation.

Is it worth buying Pepe coin?

Buying the Pepe coin depends on your personal investment goals and risks. It is also important to keep in mind the volatility, market sentiments, and overall trend of the crypto markets before you invest in the Pepe token.

Source link

Altcoins

Trader Hints at Parabolic Rally to All-Time High for Solana Rival, Updates Outlook on PEPE and WIF

Published

1 month ago

October 15, 2024

admin

A widely followed crypto strategist and trader believes that steep rallies are in store for one Solana (SOL) challenger.

Pseudonymous analyst The Crypto Dog tells his 829,200 followers on the social media platform X that layer-1 chain Sui (SUI) may be poised to witness huge bursts to the upside after printing a new all-time high (ATH).

With blue skies ahead for SUI, the trader thinks it is within the realm of possibility for the altcoin to go vertical.

“We gonna see a proper parabolic ATH break run?”

At time of writing, SUI is worth $2.32 slightly below its new all-time high recorded just hours ago.

Turning to the memecoin Pepe (PEPE), the trader thinks it is gearing up to take out its diagonal resistance and spark a new leg up.

“PEPE wants to start something.”

At time of writing, PEPE is trading at $0.00000962, still below the analyst’s diagonal resistance.

Looking at fellow memecoin dogwifhat (WIF), the trader thinks the altcoin needs to overcome one downward resistance line to ignite rallies to fresh all-time highs.

“ATH run?”

At time of writing, WIF is trading for $2.63, hovering close to the trader’s diagonal resistance.

As for Bitcoin, the trader says BTC is very close to witnessing a proper bull market.

“We break $63,500 it’s gonna be no items long only final destination.”

At time of writing, Bitcoin is worth $62,682.

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