The price of $PEPE has dropped from 0.00000970 to 0.00000953 over the last few hours. This represents part of a broader downward movement after a strong increase of 14% that the coin experienced on July 3 when it reached 0.00001.
Factors Affecting Price
- Whale Activity: Data indicates that whales (large investors) have accumulated nearly $3 million of $PEPE .
, which may indicate confidence in the potential for price increases in the future.
- Supply Concentration: According to reports, 10 of the largest holders control a significant portion of the circulating $PEPE , making the coin susceptible to severe volatility based on the movements of these investors.
- Testing Support Level: The coin is currently testing a key support level, and maintaining this level could lead to a potential bounce of up to 12% as some forecasts suggest.
Future Outlook
In the short term, it appears that #PEPE is in a correction phase after the previous strong rise. However, institutional and whale interest in the coin may suggest the potential for improved performance in the near future.
The level of 0.00000950 should be monitored as a key support level, as breaking it may lead to further declines, while maintaining it may initiate a new bounce wave.
## External Factors
The cryptocurrency market as a whole is currently affected by U.S. employment data (Non-Farm Payroll), which may impact Bitcoin's movement and consequently the rest of the market, including meme coins like PEPE.
The information mentioned above has been researched and summarized through personal effort and does not constitute investment advice. #OneBigBeautifulBill #BTCWhaleMovement #NFPWatch #REX-OSPREYSolanaETF