Pepe (PEPE), a meme-inspired cryptocurrency, has gained significant traction in the crypto space.
Pullback in Uptrend. Price remains in an Uptrend but has pulled back, which could present a ‘buying dip’ opportunity. Traders should look for the nearest support level where price could stabilize and resume its Uptrend. This support level could be a level where price bounced off of in the past, or a level that was previously resistance.
Here’s a detailed analysis of its performance, market data, and latest developments.
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Pepe Coin Price Analysis
- Current Price: $0.0000214 .
- Market Capitalization: $8.99 billion.
- 24h Trading Volume: $5.32 billion.
- 24h Low/High: $0.0000199 / $0.0000216.
- Circulating Supply: 420,690,000,000,000 PEPE.
- Maximum Supply: 420,690,000,000,000 PEPE.
Following a bullish breakout from Channel Up pattern, price spiked up +60% to $0.000026 resistance where it got very overbought (RSI ~ 80) and pulled back on profit taking. Pullback near $0.000017 support (prior resistance), could be a swing trade entry opportunity. Stop Loss at $0.0000155.
Weekly Price Analysis
Over the past week, Pepe has seen a minor decline of 3.02%, reflecting moderate market corrections following its all-time high earlier this month.
Trend: Short-term trend is Strong Up, Medium-term trend is Strong Up, Long-term trend is Strong Up.
Momentum is Bullish but inflecting. MACD Line is still above MACD Signal Line but momentum may have peaked since MACD Histogram bars are declining, which suggests that momentum could be nearing a downswing. Price is Overbought currently.
Support and Resistance: Nearest Support Zone is $0.000017, then $0.000013. Nearest Resistance Zone is $0.000026.
Indicator Values
- 14-day Relative Strength Index (RSI): 71.
- Fear & Greed Index: Extreme greed with a score of 94.
- 1-month Price Change: +118.83%.
- 1-year Price Change: +1804.91%.
News Roundup
- Market Activity: Pepe reached an all-time high of $0.00002524 on November 14, driven by increased whale activity.
- Meme Coin Momentum: The ongoing hype around meme coins has benefited Pepe, aligning it with popular tokens like Dogecoin and Shiba Inu. The no-tax policy and burning mechanism further bolster its appeal.
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