Recent developments in PEPE’s price movement have caught the attention of many investors, with a significant uptick observed in the past 24 hours. However, amidst the excitement surrounding this meme-inspired cryptocurrency, a recent bearish update has raised concerns about a potential price correction.<\/p>\n
Analysis from CoinMarketCap indicates that PEPE has surged by more than 5% in the last day, currently trading at $0.00001001 with a market capitalization exceeding $4 billion. This surge has resulted in 219k PEPE addresses being in profit, representing over 72% of all addresses associated with the memecoin.<\/p>\n
Despite these positive indicators, recent reports from CryptoCrypto suggest that PEPE’s upward momentum may face obstacles ahead. Recent data from Santiment reveals a shift towards negative sentiment surrounding PEPE, with a decrease in social volume further reflecting a waning interest in the memecoin.<\/p>\n
Furthermore, a recent tweet shared by Lookonchain highlighted a significant transaction involving a PEPE holder switching their holdings for another cryptocurrency, signaling a potential increase in selling pressure. Thus, an examination of PEPE’s on-chain data was conducted to verify this claim.<\/p>\n
Our analysis revealed a rise in PEPE’s supply on exchanges coupled with a decrease in its off-exchange supply, indicating a potential surge in selling pressure. Additionally, increased exchange inflows and a reduction in holdings by major addresses further support this notion.<\/p>\n
Given the emerging signs of a looming price correction, CryptoCrypto delved into PEPE’s daily chart to identify potential support levels in case of a correction.<\/p>\n
Initial projections suggest that in the event of a correction, PEPE could retrace to $0.0000085, with a further decline possibly leading to a level of $0.0000066. Conversely, if the bullish trend persists, PEPE could target a resistance level of $0.0000114 in the near future.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Impending Rise in Selling Pressure Could Propel Memecoin PEPE to New Price Levels Recent developments in PEPE’s price movement have caught the attention of many investors, with a significant uptick observed in the past 24 hours. However, amidst the excitement surrounding this meme-inspired cryptocurrency, a recent bearish update has raised concerns about a potential<\/p>\n","protected":false},"author":1,"featured_media":26839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-26838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50","no-featured-image-padding"],"_links":{"self":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts\/26838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/comments?post=26838"}],"version-history":[{"count":2,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts\/26838\/revisions"}],"predecessor-version":[{"id":26841,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/posts\/26838\/revisions\/26841"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/media\/26839"}],"wp:attachment":[{"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/media?parent=26838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/categories?post=26838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/btcacademy.online\/crypto\/wp-json\/wp\/v2\/tags?post=26838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}