#NFPWatch Analysis of the PEPE coin - current price trend The PEPE coin is currently experiencing a slight retraction
Where the price of $PEPE dropped from 0.00000970 to 0.00000953 in the last hours. This represents part of a broader downtrend following a strong increase of 14% that the coin experienced on July 3rd, when it reached 0.00001.
Factors affecting the price
- Whale activity: Data indicates that whales (large investors) accumulated about 3 million dollars of the $PEPE coin.
PEPE
0.0000096
-1.13%
, which may indicate confidence in the potential for price increase in the future.
- Supply concentration: According to reports, 10 of the largest holders control a significant portion of the circulating $PEPE coins, making the coin susceptible to large volatilities based on the movements of these investors.
- Testing the support level: The coin is currently testing a key support level, and maintaining this level could lead to a possible retracement of up to 12%, according to some forecasts.
Future outlook
In the short term, it seems that #PEPE is in a correction phase after the previous strong rise. However, interest from institutions and whales in the coin may indicate the possibility of improved performance in the near future.
The levels of 0.00000950 should be monitored as key support, as breaking this level could lead to further declines, while maintaining it could signal the start of a new wave of retracement.
## External factors
The cryptocurrency market as a whole is currently influenced by US employment data (Non-Farm Payroll), which may impact the movement of Bitcoin and consequently the entire market, including meme coins like PEPE.
The information mentioned above has been researched and summarized with personal effort, and does not constitute investment advice. #OneBigBeautifulBill #BTCWhaleMovement #NFPWatch #REX-OSPREYSolanaETF
