koinmilyoner
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Bullish
🐸 PEPE Bulls Not Done Yet — Support Holds the Key to $0.000015
Pepe (PEPE) has dropped 5% in the last week as meme currencies have suffered in the recent slump.
Some on-chain data suggest a pessimistic Pepe price forecast as whales quit the ship and take losses.
Many investors are waiting on losses as the number of “in the money” PEPE wallets has dropped by 9%.
Meanwhile, huge transaction volumes have reduced 5%, indicating whale activity has decreased.
Finally, since late May, the MVRV Z-score, which estimates the percentage of crypto wallets holding PEPE that are underwater, has fallen.
If this indicator stays negative for too long, whales may be capitulating and selling, maybe because to shifting assumptions about the token's upward potential.
The Iran-Israel war may have caused this.
Bounce Off This Support, PEPE Could Reach $0.00001500
PEPE's 4-hour chart shows its crucial support region. As investors await the next trigger to determine what to do with their coins, $0.00001000 looks to be the most important milestone.
A breach below might cause a huge drop to $0.00000880. As said before, on-chain data implies negative momentum is growing. This new decline may allow whales to start collecting tokens again around $0.00001000.
The token may reach $0.00001500 if it breaks over $0.000011. Pepe's daily short-term exponential moving averages (EMAs) don't support a positive price forecast.
#PEPE #PowellVsTrump #MarketPullback #Write2Earn #Write2Earn! $PEPE
Pepe (PEPE) has dropped 5% in the last week as meme currencies have suffered in the recent slump.
Some on-chain data suggest a pessimistic Pepe price forecast as whales quit the ship and take losses.
Many investors are waiting on losses as the number of “in the money” PEPE wallets has dropped by 9%.
Meanwhile, huge transaction volumes have reduced 5%, indicating whale activity has decreased.
Finally, since late May, the MVRV Z-score, which estimates the percentage of crypto wallets holding PEPE that are underwater, has fallen.
If this indicator stays negative for too long, whales may be capitulating and selling, maybe because to shifting assumptions about the token's upward potential.
The Iran-Israel war may have caused this.
Bounce Off This Support, PEPE Could Reach $0.00001500
PEPE's 4-hour chart shows its crucial support region. As investors await the next trigger to determine what to do with their coins, $0.00001000 looks to be the most important milestone.
A breach below might cause a huge drop to $0.00000880. As said before, on-chain data implies negative momentum is growing. This new decline may allow whales to start collecting tokens again around $0.00001000.
The token may reach $0.00001500 if it breaks over $0.000011. Pepe's daily short-term exponential moving averages (EMAs) don't support a positive price forecast.
#PEPE #PowellVsTrump #MarketPullback #Write2Earn #Write2Earn! $PEPE
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
PEPE
0.00000974
-1.71%