As a seasoned crypto investor with a keen interest in meme coins, I’ve closely monitored the recent price movements of PEPE and its competitors, Dogwifhat (WIF) and Shiba Inu. The technical analysis and market insights shared in this article have piqued my curiosity and here’s why.
Despite the larger market experiencing a correction, PEPE Coin, the world’s third-largest meme token, has seen a 4% rise. At present, the PEPE price is at $0.0000114 and boasts a market capitalization of $4.8 billion. The daily trading volume for this coin amounts to $726 million. According to the technical chart, PEPE Coin is now in a pivotal position and faces a significant turning point.
PEPE Coin Price – A Do Or Die
According to the technical analysis, the PEPE coin is attempting to bounce back at the significant support prices of $0.000011. The meme coin PEPE exhibits robust performance among the cryptocurrencies, outperforming heavyweights like Bitcoin (BTC) and Ethereum (ETH).
PEPE is presently converting its old peak into a floor after successfully re-visiting its 100-day moving average (1-day 100 EMA) on its chart. The trendline resistance from the past one day is being closely monitored by traders, as a potential breach would indicate an excellent chance to invest in PEPE, according to analyst Crypto Scientist.
Expert here: In his analysis, crypto expert Crypto Patel identifies a key point for the meme coin PEPE. To regain upward momentum, PEPE needs to defend its crucial support at $0.000011. However, if it can’t hold this level, there’s a risk of a substantial drop, potentially reaching $0.000006. As per CoinGape’s report, the Open Interest for PEPE Coin has been decreasing, suggesting waning bullish sentiment.
A Look Into Other Meme Coins
PEPE Coin is currently experiencing an uptrend, while Dogecoin (WIF) has taken a significant hit, plummeting by 8% to reach a price of $1.77. This decline in WIF’s value follows substantial whale sell-offs that have occurred over the last two days. A major WIF investor recently transferred 12.66 million WIF coins, equivalent to a value of approximately $23.4 million, to Binance for sale.
A whale deposited 12.66M $WIF($23.4M) to #Binance in the past 2 days.
— Lookonchain (@lookonchain) June 22, 2024
Contrarily, Shiba Inu experienced a significant increase in the rate at which tokens were destroyed, with over 1,100% more SHIB tokens being burned in just one day.
Read More
- BTC PREDICTION. BTC cryptocurrency
- LUNC PREDICTION. LUNC cryptocurrency
- BCH PREDICTION. BCH cryptocurrency
- MNT PREDICTION. MNT cryptocurrency
- Best Goomba Characters In Mario Games, Ranked
- SOL PREDICTION. SOL cryptocurrency
- USD RUB PREDICTION
- Destiny 2 Player Transforms Their Warlock Into Team Fortress 2’s Medic
- USD PHP PREDICTION
- ETHW PREDICTION. ETHW cryptocurrency
2024-06-22 09:15