PEPE is a widely famous meme coin launched on Ethereum. The cryptocurrency was created by Matt Furie and it was a tribute to the Pepe the Frog internet meme. The main aim of the coin is to capitalize on the opportunity created by meme coins, like Shiba Inu and Dogecoin. The PEPE crypto’s other objective was to stabilize itself as a top meme cryptocurrency.
Roadmap of PEPE Coin
Phase one of the PEPE coin is established as a MEME, 2nd phase is to spread the vibe and hold on for dear life (HODL) and phase 3 is to take over the Meme scene.
Let’s Analyze the PEPE Coin
As per the data of the Coin Market cap, 88.18% of the total wallet addresses hold amounts of $0 to $1K in the form of PEPE coins. Similarly, 11.53% of wallet address holds an amount between $1K to $100K whereas, 0.29% of addresses secure an amount of more than $100K.
The whale holdings in the coin are 40.81% and the other holds 59.19%. On 19 NOV 2023, the whales had 180.47 trillion Pepecoin, investors had 104.68 trillion coins, and retailers held 130.42 Trillion coins.
PEPE coin is trading in the bullish zone above the key moving averages showing bullishness on the daily charts. The price movements are relevantly more stable for PEPEUSD crypto than other major cryptocurrencies as of now.
The buyers have an adequate probability of attaining the expected target if they can sustain the price above the 200 EMA. It will put the anticipated outcomes in the bulls’ favor
The present value of PEPEUSD is $0.00000118696 and it has a market capitalization of around $495.575 Million (press time).
PEPE price has been trading in a bull trend for the past few months. After making a breakout PEPEUSD crypto price has been finding consistent support from the bulls from the trendline. Observing the historical price action, it can be estimated that the 200-day EMA level has been acting as a crucial demand zone.
Indicators Analysis of PEPE crypto price in 1-D Timeframe
PEPE ( USD: PEPEUSD) has steadily seen its crypto price rise for the past three months, gaining 8.71% and 80.29% in the last month. Currently, PEPEUSD crypto has been trying to hold on to this level after an unexpected surge in price.
If it can keep this level, the PEPE price could continue to go up and reach the first and second targets of $0.00000145879 and $0.00000160000. However, if the PEPEUSD price cannot maintain this level and falls, it might hit the closest support levels of $0.00000104520 and $0.00000100502.
Currently, PEPE crypto (USD: PEPEUSD) is trading above the 50 and 200-day SMAs (Simple moving averages), which are supporting the price momentum. Moreover, other indicators like MACD and RSI are giving a Bullish outlook.
However, if buying volume adds up, the price might support bullish momentum by making higher highs and new highs. Hence, the PEPE price is expected to move upward giving bullish views over the daily time frame chart.
PEPE crypto (PEPEUSD) technical oscillators support the bullish trend. The MACD, RSI, and EMA are emphasizing positive signs and imply that the uptrend may continue in the PEPEUSD crypto price. Price action suggests that the investors and traders are bullish on the 1-Day time frame. The price action reflects a bullish perspective at the moment. However, Investors and traders should wait for proper setup for the next move and avoid FOMO.
Support Levels: $0.00000104520 and $0.00000100502.
Resistance Levels: $0.00000145879 and $0.00000160000.
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions