PEPE Price Soars 21%, 243,500 Investors in Profit

Share This Post

PEPE Price Prediction: Is a 10x Rally on the Horizon?

The post PEPE Price Soars 21%, 243,500 Investors in Profit appeared first on Coinpedia Fintech News

PEPE has been making waves lately, with a 21% jump in its price over the past week, bringing its trading value to $0.00001098. For those holding PEPE, this was a huge boost: around 243,500 investors, or about 77% of holders, are now in profit. While this rise has stirred up excitement, many investors are still wary. Could PEPE keep rising, or will it lose steam?

A Bullish Signal Hints at a Big Breakout

What’s got traders buzzing is a bullish pennant pattern that’s been forming since March. Patterns like this can often signal big moves, and some analysts are saying PEPE could even go up by 200% if it breaks out. But before we get too excited, there’s still a resistance level to beat between $0.000010 and $0.000012. Breaking through that range might just be what PEPE needs to take off. Right now, the support level sits at $0.0000098870, which aligns with the 200-day moving average. That’s a good sign for those hoping PEPE holds its ground.

pepe-price-chart

Despite the excitement, not everyone’s jumping on the train. The long-short ratio, which is slightly leaning towards more shorts at 0.95, shows that a few traders are still skeptical. They’re probably waiting to see if this rally holds up.

PEPE Buying Pressure Builds Up

If you look at the data, you’ll notice something interesting: buying pressure is on the rise. On-chain data shows a lot of PEPE is moving out of exchanges, which usually means investors are holding onto it rather than planning to sell. That’s usually a good sign. However, some “whales” (the big holders) have been selling a bit of their stash, which has some investors a little nervous. Still, the overall sell volume has dropped sharply from 100 to just 17. Lower sell pressure generally signals a steady market, and for PEPE, that could mean more stability.

The Relative Strength Index (RSI) has dipped a bit too—from 74 down to 60. It’s not a huge drop, and staying at 60 means PEPE is still in the bullish zone. It’s like a pause, maybe even a healthy one, as the price finds its footing for whatever comes next.

What’s Next?

For now, PEPE investors seem optimistic, but some are keeping a cautious eye out, especially if the whales decide to cash in. Reduced sell pressure and strong buying signals could mean PEPE’s rally isn’t over, though. As long as the price holds above support levels and manages to break through resistance, this could be the start of something big for PEPE holders. Either way, the next move will be key in figuring out if this rally has lasting power.

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

TRON’s Memecoin Boom: SunPump, $SUNDOG, and Nexmate.AI Drive Ecosystem Growth

As the memecoin landscape continues to evolve, SunPump has become a crucial platform within the TRON ecosystem, driving engagement and supporting innovative projects As TRON’s premier memecoin

Top Altcoins To Stack Immediately To Maximize Short-Term Gains?

The post Top Altcoins To Stack Immediately To Maximize Short-Term Gains appeared first on Coinpedia Fintech News The crypto market is on the verge of concluding the first week of November on a

Record-Breaking Day for Bitcoin ETFs With $1.38 Billion Inflows

US spot bitcoin exchange-traded funds (ETFs) saw a record-breaking $138 billion inflow on Nov 7 ETF Investors Want More Bitcoin The staggering inflow of $138 billion into bitcoin ETFs set the record

Fed Rate Cut and Record Inflows into BTC and ETH ETFs, Top 3 RWAs Set to Rally

The post Fed Rate Cut and Record Inflows into BTC and ETH ETFs, Top 3 RWAs Set to Rally appeared first on Coinpedia Fintech News Trump has secured US Presidency over Harris, bringing into power a

Binance Labs invests in BIO Protocol to advance DeSci, disrupt traditional funding

Binance Labs, the venture capital arm of crypto exchange Binance, has made a strategic investment in BIO Protocol, a blockchain-based platform that aims to reshape early-stage scientific research

Bitcoin Open Interest Soars As Top Crypto Breaks $76,000 – Details

Bitcoin has achieved new highs, surpassing $76,000 for the first time in history This spike follows Donald Trump’s victory in the US presidential election, which many investors believe will