1. Price Performance and Trading Volume $PEPE
- Current price: $0.00001229.
- Trading range: The price ranged between $0.00001063 (low) and $0.00001396 (high), reflecting notable volatility.
- Trading volume: Reached $15.08 million, indicating moderate market activity compared to the previous peak trading volume that exceeded $1 billion.
2. Key Metrics
- Market capitalization: $5.17 billion, placing it among the top 50 cryptocurrencies.
- Circulating supply: 420.68 trillion coins out of a similar total supply.
3. Technical Analysis and Support/Resistance
- Current support level: $0.00001063 (lowest price in 24 hours), with potential additional support at $0.0000075.
- Resistance level: $0.00001396 (highest price in 24 hours), with major resistance at $0.0000149.
- Relative Strength Index (RSI): Ranged between 65-70 in previous analyses, indicating potential upward momentum, but the recent decline may reflect a temporary correction.
4. Short-term Outlook
- Bullish scenario: If resistance at $0.00001396 is broken, the price may target $0.000015 or higher.
- Bearish scenario: Failure to break resistance may lead to a decline towards $0.0000075.
- Impact of new projects: The Pepe Unchained (PEPU) project, which has raised $27.5 million, may affect investor focus, especially with plans to launch a second layer on Ethereum.
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Summary:
Pepe has experienced sharp fluctuations over the past 24 hours, with a decline of 7.74%, impacted by selling pressures and its correlation with Bitcoin's performance. While technical indicators suggest potential upward momentum, risks remain due to high volatility and external market factors. Traders are advised to closely monitor support and resistance levels, especially with developments in competing projects like Pepe Unchained.$PEPE
