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Pepe Coin

Pepe

The post <a rel="nofollow" href="https://coinpedia.org/altcoin/market-reversal-failed-to-excite-pepe-coin-buyers-heres-the-next-level-for-pepe-price/">Market Reversal Failed To Excite Pepe Coin Buyers! Here’s The Next Level For PEPE Price</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
While the cryptocurrency market experienced a welcome upswing this week, reaching a high of $26,500 for Bitcoin, PEPE’s price didn’t follow suit. It <a href="https://coinpedia.org/price-analysis/pepecoin-in-trouble-analyst-warns-of-40-pepe-price-plunge/">remained cold</a>, unable to capture the bullish momentum, thereby keeping the price in a bearish zone. As the week draws to a close with PEPE still on a downward trend, holders of this meme coin are eagerly awaiting an opportunity to ‘buy the dip’ in the days ahead.&nbsp;&nbsp;&nbsp; 
<h2 class="wp-block-heading" id="h-whales-lose-confidence-on-pepe">Whales Lose Confidence On PEPE</h2> 
Once a darling among whale investors for its extreme volatility and price fluctuations, <a href="https://coinpedia.org/price-prediction/pepecoin-pepe-price-prediction/">PEPE coin</a> has recently lost its reputation, failing to meet price expectations. Additionally, trading volume has seen a significant drop, as traders hesitate to open new positions due to the coin’s declined price volatility. 
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According to information from IntoTheBlock, the volume of large transactions for PEPE coin has plummeted tenfold, going from a high of $40 million to a mere $4 million within a week. This drastic reduction indicates declining confidence among whale investors in holding onto PEPE meme coin. In terms of trading activity, there has been a noticeable decrease in volatility over the past week. The volatility rate has fallen from a peak of 100.1% to 81.4% as of September 15. 
Whales are either selling off their holdings or are no longer actively trading PEPE coins. This could be a sign of declining faith in the asset’s potential for high returns. 
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 <img decoding="async" src="https://lh5.googleusercontent.com/BXKFSojlw_TZG4YAMqtCjz6UCsZYBRaVZqRsnAeI72Uzx-tAhVxiHHotvkrTF0MxnpL_nF1ehECp0EPLXp5lEAKzgg_t_8Rz0ttxKWl-Y58hY_2ijgci__H2n0pqM4i6jTzgH536TaQUyJ_bQlrXmZc" alt="">
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On the bright side, Pepe coin is showing signs of increased network activity. Data indicates that the number of active addresses has jumped from a low of 965 to 2,500, and there has been a 109% surge in the creation of new addresses over the past two days. Despite the declining price, these metrics point to a growing bullish sentiment for Pepe coin. 
<h2 class="wp-block-heading" id="what-s-next-for-pepe-price">What’s Next For PEPE Price?</h2> 
Pepe coin touched its 20-day exponential moving average of $0.00000068, but failed to break through this resistance level. This indicates that bears are actively defending the 20-day EMA. As a result, the price is consolidating below $0.0000007. As of writing, PEPE price trades at 0.00000067, declining over 2% from yesterday’s rate. 
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However, the inability of the bears to breach the key support level at $0.00000064 suggests that selling pressure is low at lower price points. The relative strength index (RSI) appears to be forming a positive divergence with the midline, signaling a weakening in bearish momentum. 
The first indication of a potential recovery would be a successful break and close above the downtrend line, paving the way for a more sustained rally toward $0.00000083. 
Conversely, if the $0.00000064 support level is compromised, the Pepe price could enter a bearish rally. While there is a possibility of bullish defense, it may not be sufficient to halt the decline.

Market Reversal Failed To Excite Pepe Coin Buyers! Here’s The Next Level For PEPE Price

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