PEPE
Will Pepe Coin Price Rally to $0.000015 In October?
Published
3 months agoon
By
adminDuring 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.
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.
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.
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
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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Analyst
PEPE Price Hits $0.000027 ATH, On-Chain Data Says These Are The People Driving It
Published
2 weeks agoon
December 9, 2024By
adminThe 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.
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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.
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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.
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 agoon
December 9, 2024By
adminMeme 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 agoon
December 2, 2024By
adminA 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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