13.8 C
29 May 2024
Image default

Pepe Coin Price Prediction As Whales’ Buying Spree Sets $0.00001 Target in Sight

Pepe Coin Price Analysis: For over a week, the Bitcoin price has wavered around the $60000 level accelerating uncertainty among market participants. As a result, the altcoin market lacked the momentum to drive a sustainable recovery with many showing a sideways action. Pepe, the Frog-themed memecoin has been trading since May 4th, resonating between two horizontal levels of $0.00000913 and $0.0000078.

Also Read: Smart Money Flocks To PEPE & These Major Cryptos, A Recovery Ahead?

Key Resistance Breakout Sets 18% Upswing in PEPE Price

Pepe Coin Price Prediction| Tradingview

The Pepe coin has been rallied to a steady recovery since mid-April as the price rebounded from $0.00000393. The positive upswing surges the coin value by 124% within a month to reach the current trading price of $0.00000881.

In daily charts, this rally offering higher highs and lows formation indicates the buyers are actively accumulating this asset at dips, which is a key sign of the established rally. 

A recent update from Spot On Chain highlighted a significant transaction by the trader known as Oxa14, who strategically withdrew 350.2B PEPE tokens worth $2.92 million from Binance during a market dip. 

This move is part of Oxa14’s successful trading strategy, which has yielded a 100% win rate and an estimated $2.59 million in profits from PEPE trades. Currently, Oxa14 holds 660B PEPE tokens, valued at approximately $5.74 million

This active accumulation and retention suggest that savvy investors anticipate a sustained recovery trend for the PEPE price.

Thus, the coin price is likely to break the overhead resistance of $0.00000913. A successful breakout will provide buyers with the next stepping stone to lead a higher rally potential chase of $0.0000108, followed by $0.000012.

Technical Indicator

  • Vortex Indicator: A notable bullish spread when the VI+( blue) slope is above VI- (pink) indicates a recovery trend in active.
  • Pivot levels: The traditional pivot levels highlight $0.0000113 and $0.000014 as the key resistance zone.

The post Pepe Coin Price Prediction As Whales’ Buying Spree Sets $0.00001 Target in Sight appeared first on CoinGape.

Related posts

OpenLaw and Chainlink are Linking the world of Smart Contracts and Legal Contracts


Gold drops to 7oz per BTC as Peter Schiff calls Bitcoin ‘biggest bubble’


Twitter Hackers Try to Launder Funds Via P2P and Gambling Platforms

Verified by MonsterInsights