Pepe Coin Price Analysis: Will $PEPE Hit $0.00001 in the Coming Week?
Release: 2024/05/05 22:24 Reading: 311
Pepe Coin Price Analysis: Will $PEPE Hit $0.00001 in the Coming Week?
Amid the ongoing market rebound, the Pepe Coin experienced a notable recovery this week, escalating from $0.00000592 to its current trading price of $0.00000842. This 42% upswing in the daily chart revealed the formation of an inverted head and shoulder pattern. This bullish reversal setup commonly observed in the market's local bottom indicates a shift in market dynamic from selling on rallies to buying on dips.
On-Chain Indicators Align for Pepe Coin's Recovery
src="/uploads/20240506/17149251696637ae71994ee.png">
Pepe Coin Price Analysis | Tradingview
PEPE, the Frog-themed Memecoin entered its current recovery trend in mid-April as its price rebounded from a $0.00000393 low. The bullish turnaround propelled the asset 128% within a month to a high of $0.00000893.
Amid this recovery, the PEPE coin price projected two higher low formations indicating the buyers are actively accumulating this asset at dips. Moreover, in a recent on-chain activity, the multisig wallet identified by the address 0x323 made significant moves with the cryptocurrency PEPE, as reported by the on-chain data tracker Spot On Chain.
A multisign wallet 0x323 withdrew 915.85B $PEPE ($7.75M) from #Binance at $0.000008466 ~ 10 mins ago.
In the past 28 hours, the wallet has withdrawn 1.238T $PEPE ($10.4M) from the CEX for the first $PEPE trade.
Set the alerts for the wallet via our @spotonchain platform at… pic.twitter.com/tcmCKxqMdn
— Spot On Chain (@spotonchain) May 5, 2024
This wallet withdrew 915.85 billion PEPE tokens, valued at approximately $7.75 million, from Binance. This transaction adds to the wallet's recent activities over the past 28 hours, during which it has withdrawn a total of 1.238 trillion PEPE tokens (valued at around $10.4 million) for its initial trade involving this cryptocurrency.
Amid the renewed recovery sentiment, this activity accentuates higher growth potential for the PEPE price.
On May 4th, the coin buyers gave a decisive breakout from the $0.000008 neckline resistance of inverted head and shoulder pattern. If the chart pattern holds true, the PEPE price should surpass the last swing resistance of $0.0000108 to hit a potential target of $0.000012.
Technical Indicators
- BB Indicator: The uptick in the upper boundary of the Bollinger band indicator highlights an active buying momentum among market participants.
- Average Directional Index: An upswing in ADX slope at 16.6% indicates the prior correction assisted buyers in regaining their strength for the higher rally.
Recent news
More>- 60.9 Billion Dogecoin (DOGE) in 24 Hours, What's Happening? 11-27
- Historic Milestones: Bitcoin approaching $100,000 and Pepe Unchained secures over $52 million in presale 11-27
- UK’s financial regulator to implement final crypto rules by 2026 11-27
- Dogecoin’s Dogebox Will Revolutionize Everyday Transactions in 2025 11-27
- From Dogecoin to Dogen: The 10,000% Rally Everyone Is Talking About! 11-27
- Bets.io – one of the most wonderful and safe online crypto-casinos 11-27
- This week’s crypto opportunities: Buy signals for XRP, LINK, and XYZ 11-26
- Trump’s Pet Pepe (TRUMPEPE) Solana Memecoin Will Rally 18,000% Before Exchange Listings, As Shiba Inu and DOGE Lag 11-26
- Analyst Predicts This Layer-2 Meme Coin Could Surge 150X at Launch 11-26
Selected Topics
More>>-
- pepecoin Price Analysis
- This topic provides articles related to PepeCoin price, covering key PepeCoin insights and analysis
-
- pepe:meme star
- This topic provides articles related to the most promising meme, PEPECOIN, a project with the potential to become a mainstream digital currency. It has the advantages of decentralization, reliability, ease of use, fast speed, low cost and scalability, and is expected to be more widely used in the future
-
- pepecoin price prediction
- We’ve gathered facts about pepecoin’s success story and provided a pepecoin price prediction
Selected Articles
More>>- 1 Avalanche and Aptos rival raises over $600k in 2 weeks
- 2 Crypto Prices Today: Market Continues Rally With BTC, Pepe Coin, SEI Rising
- 3 Major Analyst Crypto Tony Bullish on These Meme Coins, But One Stands Out
- 4 MTAUR Ready to Crush DOGE and PEPE: 100x Price Growth Incoming?
- 5 Memecoins Surge in 2024, Popcat Leads with 7,621% YTD Gain, Outshining Top Crypto Tokens
- 6 PEPE Meme Coin Smashes ATH – See How Much an $83 Investment in Pepe Coin Last Year is Worth Now
- 7 Top 4 Altcoins At 70% Discounts – Last Chance!
- 8 Dogecoin Creator Proposes DOGE to NBA Legend Scottie Pippen
- 9 Top Analyst Who Predicted Dogecoin (DOGE) Last 170x Rally Forecasts New Parabolic Rise, Here’s His Price Target
- 10 New Solana Memecoin Trump Loves Elon to Rally 15,000% Before Exchange Listing, SHIB and Bonk Crash
ABOUT US
We are building the most influential，trusted information platform for aglobal community engaged in thd transformation of the financial system andthe emerging crypto economy.PEPE is an integrated platform for media,events,data & indices for the next generation fo investing and the future of money.
Get in touch with the PEPE team at admin@pepecoinbuy.com