Pepe Coin Price Could Rise 2X Soon 2 On-chain Metrics Indicate

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This week, the price of Pepe Coin is experiencing a downtrend due to Bitcoin dipping below $95,000 and most meme coins seeing a retreat. This market slump has led to a loss of nearly $3 billion in value, causing some investors to cash out. However, decreasing supply on exchanges and certain technical indicators suggest that the Pepe price might surge sharply in the near future.

Pepe Coin Price On-Chain Metrics Signal A Rebound Is Possible

Based on data stored within the Pepe blockchain, indicators suggest that the coin might be poised for an upward trend. A frequently consulted piece of this data is the amount of coins held on exchanges, as it offers insights into whether traders are purchasing or offloading the asset.

For Pepe, recent Santiment data indicates a persistent decrease in the token supply on exchanges over the past few days. This reduction is significant, as the amount has dropped from approximately 218 trillion tokens to around 147 trillion. This substantial decline suggests that a large number of holders, particularly the whales, have not transferred their Pepe coins from their wallets to exchanges.

According to recent data from IntoTheBlock, there has been a relatively low volume of significant trades in the past weeks compared to what was seen in December last year. Specifically, there were 354 large transactions on Thursday, which is significantly less than the over 1,600 recorded in December. This indicates that many major investors have maintained their positions, presumably waiting for a rebound.

Pepe MVRV Indicator Points To Undervaluation

As a crypto investor, I’ve been closely watching the Pepe coin, and it seems increasingly apparent that its current market value is significantly undervalued. One of my favorite tools for gauging this is the Market Value to Relative Value (MVRV) indicator. This tool calculates the z-score of the market value and relative value ratio, with a lower figure suggesting that the coin might be underpriced. At the moment, Pepe coin’s MVRV suggests it could be a promising investment opportunity.

Over the past 30 days, 7 days, and even a year, the Market Value to Realized Value (MVRV) ratios of the coin have stayed low due to its recent price decrease. This suggests that the coin may currently be undervalued and could be a good buy.

As a crypto investor, I’ve been keeping an eye on the TD Sequential indicator. Last time it turned red on January 4, it signaled a 20% market drop. Now that it’s flashed green, it could mean we’re due for a bounce back. Let’s stay vigilant and see how this plays out!

Pepe Coin Price Analysis: Can It Rebound?

The daily graph indicates that the Pepe’s value has fallen to a significant support point of approximately $0.00001716. This level is important because it aligns with the 100-day Exponential Moving Average and the top edge of the cup and handle configuration, suggesting a potential break and retest pattern. Such a pattern often serves as a continuation signal, which is quite common.

If what’s stated is accurate, it implies that the price of Pepe Coin might experience a recovery and potentially reach close to its record high of $0.00002830 again, representing an increase of approximately 65% from its current value.

The potential issue here is that the currency could be shaping like a “head and shoulders” chart configuration, which is typically a warning sign of a high-risk reversal. This pattern might cause further declines, particularly if the currency falls below its 100-day moving average line.

The concern is that the coin might be forming a specific pattern on the chart called ‘head and shoulders’, which often signals a risky change in direction. If it drops below a certain moving average line, this could lead to a downward trend.)

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2025-01-10 18:06