$PEPE
🚨Pepe Coin Price Retracts Despite Strong Technicals: Are Donald Trump’s Tariff Threats to Blame?🚨
Pepe coin dropped to $0.000014 on May 24, down 14% from its recent high, after markets reacted to Donald Trump's new tariff threats. Despite the pullback, some technical signs point to a potential rebound.
A golden cross may be forming on the daily chart, with the 50-day EMA nearing a crossover above the 200-day EMA – a signal often linked to strong upward trends. In addition, a rounded bottom pattern is developing, and a break above $0.00001625 could open the door to a rally toward $0.00002840.
However, on-chain data shows caution. Whale holdings have fallen to 141.2 trillion Pepe coin, the lowest since November. Smart money wallets have also scaled back from 380 billion tokens last year to just 244 billion. Exchange balances have climbed to 252.9 trillion, indicating potential sell pressure for Pepe coin.
This mix of bullish technicals and bearish fundamentals leaves Pepe coin in a state of uncertainty. If the golden cross confirms and sentiment improves, a rebound is possible. But for now, weak accumulation and rising exchange supply suggest that near-term resistance could stall any breakout attempt.