PEPE

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

Published

1 month ago

November 11, 2024

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

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Analyst

PEPE Price Hits $0.000027 ATH, On-Chain Data Says These Are The People Driving It

Published

2 weeks ago

December 9, 2024

admin

Este artículo también está disponible en español.

The PEPE price recently reached a new all-time high (ATH) of $0.00002716, becoming the first major meme cryptocurrency to do so in the ongoing bull cycle. This rally to a new PEPE all-time high was driven by increased whale activity and accumulation.

Whale Accumulation Fuels PEPE’s Bullish Momentum

Data shared by crypto analyst Ali Martinez on social media platform X highlights that PEPE whales recently added $1.14 billion in PEPE to their holdings, pushing the total whale-controlled amount to $7.56 billion. This plays into a bullish run over the weekend, which saw PEPE’s market cap surpass $10 billion for the first time. At the time of writing, PEPE has a market cap of about $11.17 billion, meaning this holder cohort now controls about 67% of the total market cap.

Interestingly, on-chain data shows the surge in whale accumulation didn’t just start yesterday. IntoTheBlock’s Balance By Holdings In USD metric shows a 30-day increase of 147.81% in the holdings of addresses holding more than $10 million worth of PEPE tokens. These large holders have been on an accumulation trend, with a massive $1.14 billion purchase coming in on December 7 alone.

Other holder cohorts have also significantly expanded their positions over the past month. Addresses holding between $1 million and $10 million worth of PEPE recorded a 119% increase in their holdings during this period, while those holding between $100,000 and $1 million saw a 108% rise. Mid-tier investors with holdings between $10,000 and $100,000 registered an 84.25% growth in their balances, while even smaller holders with $1,000 to $10,000 worth of PEPE saw their holdings increase by 55.29%.

This increase in accumulation from all cohorts has increased the buying pressure on PEPE, which in turn has allowed the meme cryptocurrency to surge in value by 150% in the past 30 days.

Exchange Listings And Accessibility Boost PEPE’s Popularity

Another notable driver behind PEPE’s record-breaking performance is its growing accessibility after listing on major crypto exchanges. PEPE has been added to crypto exchanges like Coinbase, Robinhood, and Binance US in the past few days, which has significantly increased its exposure to retail and institutional investors in the US These listings have made it easier for a broader audience to trade and invest in the meme cryptocurrency.

The impact of these listings has been profound, especially as the industry is currently in a bull phase. At the time of writing, PEPE is trading at $0.00002616, representing a 3.5% increase in the past 24 hours. PEPE’s bullish trajectory appears set to extend further as whale and retail accumulation continues.

PEPE price chart from Tradingview.com — Price struggles with bearish pressure | Source: PEPEUSDT on Tradingview.com

Featured image created with Dall.E, chart from Tradingview.com

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Markets

PEPE Flips UNI and LTC, Surges Past $11 Billion Market Cap to New Record

Published

2 weeks ago

December 9, 2024

admin

Meme coin Pepe (PEPE) has reached new heights, breaking past a market cap of $11.37 billion and overtaking Uniswap (UNI) and Litecoin (LTC).

The feat comes as Bitcoin (BTC) crossed the $100,000 threshold for the first time, marking a renewed wave of optimism across the crypto market.

PEPE has witnessed a 4.5% surge in the past 24 hours, achieving an all-time high price of $0.00002708, per CoinGecko data. The asset is now ranked 23rd overall by market cap.

Meme coins are thriving this year, especially since the launch of the controversial Solana-based meme coin launchpad Pump.fun which allows anyone to create a token for free.

This year’s rally has made PEPE one of the market’s most-watched tokens, with a 150% increase over the last 30 days and a 1,900% year-to-date gain.

Analysts credit a combination of whale activity and increased accessibility through platforms like MoonPay for the meme coin’s continued success.

Crypto analyst Ali Martinez reported whales increased their PEPE holdings by $1.14 billion over the weekend, nodding to strong institutional interest. Historically, such accumulation has preceded price rallies, as whales lay the foundation for bullish momentum.

The whale activity surge comes alongside PEPE integration into MoonPay, as the crypto payment service now allows over 20 million users across 180 countries to purchase the token via platforms like Apple Pay and Venmo.

As Bitcoin leads the charge and meme coins ride the wave of investor enthusiasm, the market is seeing a reshuffling of top-ranking digital assets.

Launched in April 2023, PEPE is based on the iconic “Pepe the Frog” internet meme created by artist Matt Furie in 2005.

The token initially gained traction as a community-driven project, rallying supporters who embraced its lighthearted nod to internet culture.

Edited by Sebastian Sinclair

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Altcoins

Santa Rally Incoming? Top Crypto Trader Predicts Upside Bursts for Dogecoin, PEPE and One Solana-Based Altcoin

Published

3 weeks ago

December 2, 2024

admin

A crypto strategist known as a “Master Trader” on the digital asset exchange Bybit believes three altcoins are gearing up for more rallies.

Pseudonymous analyst Bluntz tells his 299,900 followers on the social media platform X that Dogecoin (DOGE) looks poised to witness fresh bursts to the upside after respecting support at around $0.36.

“You didn’t get bored of DOGE and leave to go chase the newest shiny thing did you?

Things are about to get fun again, in my opinion.”

At time of writing, DOGE is trading for $0.432, a 3.45% increase in the past 24 hours.

Turning to fellow memecoin Pepe (PEPE), Bluntz believes that the altcoin is back to bullish mode after breaching its diagonal resistance.

“PEPE downtrend memeline officially broken.”

At time of writing, PEPE is worth $0.0000209, a 2.7% surge in the past day.

As for the native asset of the Solana (SOL)-based decentralized exchange (DEX) aggregator Jupiter (JUP), the crypto strategist thinks the altcoin is primed to move higher after shattering a diagonal resistance.

“JUP breaking out, the Santa rally is gonna be lit this year.”

At time of writing, JUP is trading at $1.14, a marginal decrease in the last 24 hours.

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