Pepe Coinlosing a value of close to 7 percent in the last 24 hours and fell to $ 0.000012. Ethereum $2,499.34 The second largest Memecoin lost its market value of 620 million dollars in one day, while Donald Trump’s controversial dinner drew attention to the fluctuation in the Memecoin market. However, in -chain data, albeit at the loss of more than 114 thousand wallets Pepe shows that it continues to hold. Experts emphasize that Elliott wave formation, which appears in technical analysis, points to recovery.
The reasons behind the decline in Pepe Coin’s price
Pepe Coin’s hard decline in the last 24 hours Donald TrumpIt is linked to the increasing political risk perception of Memecoins after the event organized by the event. The protests during the event reunited with the argument of regulating the USD1 Stablecoin supported by Trump. The fact that US politicians suspended the stablecoin arrangement bill forced investors to exit from Memecoins.
Although Pepe still earns more than 10 percent on a weekly basis, Trump’s support for projects and Argentina President Javier MileiGlobal examples such as the solana -based Libra Memecoin Dahli made investors uneasy. This uncertainty led Pepe to depreciate 7.2 percent and 6.7 percent, respectively against BTC and ETH.
114 thousand wallets resist in Memecoin
Intothblock data that holds pepe 113 thousand 690 wallet address (25.71 percent of the total), although it does not sell, although it does not sell. Historically, such resistance reflects investors’ long -term belief in existence and the expectation of sudden recovery. Especially 66,590 wallets, which receive 58.5 trillion pepes at a level of 0.000011 dollars, are a strong support at the bottom prices.
In the daily graph in technical analysis Elliott wave formation It points to the fifth wave rise with the target of $ 0.00001632. The fact that Pepe is consolidated at the current $ 0.00001395 dollars and Ethereum remains over $ 2,600 can increase the chance of recovery. However, if the support of $ 0.000013 is broken, the price has a risk of decreasing to $ 0.000010.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
