SNEAK PEEK
- PEPE token faces a bearish trend as the price is dipping from its recent highs.
- The coin is now trading at around $0.000001727, with a loss of 9.63% in the last 24 hours.
- The Cryptocurrency is facing stiff resistance at the $0.000001933 level.
The recent crypto activity of a certain whale has been turning heads in the community due to the significant amounts of money involved and the risk-taking nature of the trades. The whale bought 397,182 $APE for 748.2M $PEPE at a buying price of $0.000001754, indicating a bullish outlook on $PEPE’s potential value.
Prior to this trade, the whale spent 45,094 $APE and 134.9 $ETH on buying 4.53T $LADYS at $0.00000008686, showcasing a willingness to make high-risk investments. However, this risk paid off when the whale sold $LADYS for 267 $ETH at $0.0000001058, netting a profit of $86K.
The latest Pepe price analysis is facing a minor pullback after a month of seeing some bullish action. The coin has seen an exponential increase in its value since April, and it’s been one of the top-performing assets on the market in terms of price growth. However, this latest dip could be an indication that PEPE is running out of steam and is ready to take a breather.
At this moment in time, PEPE looks like it’s going through a period of consolidation. It’s currently trading within a tight range and has been unable to break out of it. It’s possible that the coin will see further declines in the near future as bears try to take control of the market. Currently, the PEPE/USD pair is trading at $0.000001727, with a loss of 9.63% in the last 24 hours.
The market capitalization of PEPE tokens is currently around $1.22 billion, with a loss of 86% in the last 24 hours, indicating that few traders wanted to buy the coin at this level. The trading volume of PEPE tokens is currently around $386 million and is down by 10%. The current circulating supply of PEPE tokens is around 700 million.
The PEPE token is facing a still resistance level at $0.000001933, which could be a crucial level to watch in the short term. If the PEPE token manages to break this resistance level, it likely confirms that bulls are still in control of the market and that prices could move higher. On the other hand, if bears take control of the market and push prices below this level, the support level at $0.000001629 could be tested.
The hourly technical indicators of the PEPE token are in negative territory, indicating that bears are currently in the driving seat. The Bollinger bands on the daily chart are squeezing, indicating that the coin is likely to make a big move in either direction soon. The lower Bollinger band near the $0.00000125 level may provide some support if prices drop further. The upper Bollinger band near the $0.00000217 level could provide some resistance if PEPE token prices start to rise again.
The moving average convergence/divergence (MACD) is in bearish territory, and the histogram is also trending downwards. The MACD line is below the signal line, indicating that momentum is in favor of bears at this moment in time. The Relative Strength Index (RSI) is also in neutral territory, at 46.45, indicating that neither bulls nor bears have taken control of the market.
Overall, it looks like the PEPE token is facing a minor pullback after a month of bullish action. The coin looks like it’s consolidating within a tight range and is currently trading near the lower Bollinger band level. The technical indicators are also in bearish territory, indicating that the price could continue to drop if bears take control of the market.
Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.
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- Source: https://investorbites.com/pepe-price-analysis-15-05/
