PEPPE The price seems to be approaching a breakout despite the 2% drop in the last 24 hours. Looking at the charts, it is seen that investors support this situation and create optimism about the future of the meme coin.
PEPE Investors See Profit
It is thought that the PEPE price may break out of the descending bullish wedge formation that formed in mid-May and has been moving within since then. One of the biggest driving factors that reflects that this may happen is not the increase in participation in PEPE, but the less participation from a certain group of investors, short-term holders. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
The dominance of short-term investors, defined as those who have held PEPE for less than 30 days, appeared to have declined to just 8%. This is perhaps the lowest level ever seen and suggests significant changes in sentiment towards PEPE.
While the decline in the dominance of short-term investors continues to be remarkable, it is known that this group of investors tend to sell the coins they hold. With the decrease in the number of short-term investors in the market, the selling pressure on PEPE also seemed to decrease, which may reflect a positive outlook for the altcoin.
The decreasing influence of short-term holders on PEPE suggests that more investors are continuing to hold their PEPE for longer periods of time, which could lead to a more stable price environment.
Along with the optimistic outlook, the Chaikin Money Flow (CMF) indicator for PEPE continues to show increasing inflows. This indicator suggests that a significant amount of capital is being injected into the market and could also help fuel a recovery for the altcoin.
Considering all this, a potential recovery for PEPE may be becoming increasingly likely as the weight of short-term investors decreases and strong inflows occur.
How Many Dollars is PEPE Coin?
All these positive data PEPPE While it shows growth for its price, the possibility of a decline is also undeniable. The bullish outlook suggests that PEPE could show a 79% increase and, accordingly, reach a new all-time high.
Before reaching its ATH, PEPE will need to turn the $0.00001146 area into support. This situation is currently seen as an obstacle to a price rally for PEPE.
On the other hand, the meme coin, which found buyers at $ 0.000008386, continues to move above the $ 0.00000775 support. Depending on the breakdown of this support level, PEPE may fall to $ 0.00000600 or below.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
