Whales in the PEPE ecosystem are beginning to accumulate the drop, which is likely a predicted action, since the crypto market is poised to rise as BTC exits its consolidation stage. The domino effect indicates that altcoins are making moves on price charts. While the range is modest, there is a probability that an upward trend will emerge in the following 2-3 months.
To clarify, that is only a possibility, with volatility being a factor that is highly likely to ruin the fun at any time.
PEPE is aiming to surpass its ATH of $0.000009977, which it recently reached on the trading platform. The current number, $0.00000845, is rather optimistic. The next resistance level is located at $0.00000913, which could pave the way for a rally to $0.00001. The frog-themed meme coin has fallen about 2.94% in the last 24 hours and 2.71% in the last seven days, but markets remain optimistic about the future.
Technical indicators such as the Vortex Indicator and Pivot Levels indicate a rebound trend. The Vortex Indicator indicates that the VI+ slope exceeds VI-. Pivot Levels has detected two resistance zones: $0.0000113 and $0.000014, both on the upward side. The news of the withdrawal of 350.2 billion PEPE tokens could have sparked a bullish trend.
A trader known as Oxa14 has deleted those numerous tokens from Binance. They’re roughly worth $2.92 million. For reference, PEPE values were $0.00000849 at the time of writing. The traders considered the withdrawal strategic because they had made a total profit of around $2.59 million from the token. Analysts have also stated that this makes Oxa14 particularly excellent at swing trading.
PEPE currency has risen by 45.45% in the previous 30 days, with a 20.34% increase in 24-hour trading volume. The market capitalization has decreased; nevertheless, the decrease is only 1.07%, which is easily recovered given that BTC has reached a milestone of $60,000. A downturn in dominating crypto may eventually work in favor of altcoins again, but the token value will fall for a while.
A short-term goal is to determine if PEPE exceeds the ATH. Its price has broken through the neckline barrier of inverted H&S signals, indicating the possibility of a long-term recovery. PEPE has been on the verge of a bull run since May 4, 2024, and it is safe to infer that such a run would not be exciting given the conjecture.
Buying a drop in the cryptocurrency market has shown to be profitable. Meme currencies are gaining popularity due to their minimal trading risk. Bitcoin’s increasing trend may boost the PEPE upswing. Trends currently point to a possible long-term recovery.
