Pepe Coin

Pepe

Pepe Coin Price Analysis: Amid the ongoing market rebound, the <a href="https://coingape.com/trending/pepe-coin-rivals-to-invest-revealed/" rel="noopener noreferrer nofollow">Pepe Coin</a> 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.
Also Read: <a href="https://coingape.com/analysts-predict-biggest-altcoin-market-rally-to-4-trillion-market-cap/" rel="noopener noreferrer nofollow">Analysts Predict Biggest Altcoin Market Rally To $4 Trillion Market Cap</a>
<h2 id="strong-on-chain-indicators-align-for-pepe-coin-s-recovery-strong">On-Chain Indicators Align for Pepe Coin’s Recovery</h2>
<figure style="width: 100%" class="wp-caption alignnone"><img decoding="async" src="https://s3.tradingview.com/snapshots/3/30XokgL6.png" alt="BINANCE:PEPEUSDT Chart " width="1946" height="893">
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 Pepe Coin Price Analysis| Tradingview
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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 $0.00000893,
<blockquote>
 Amid this recovery, the <a href="https://coingape.com/price/pepe-coin/" rel="noopener noreferrer nofollow">PEPE coin price</a> projected two higher low formations indicating the buyers are actively accumulating this asset at dips. Moreover, In a recent on-chain activity, the multisig wallet identified by the address 0x323 made significant moves with the cryptocurrency PEPE, as reported by the on-chain data tracker Spot On Chain.&nbsp;
</blockquote>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 A multisign wallet 0x323 withdrew 915.85B <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a> ($7.75M) from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> at $0.000008466 ~ 10 mins ago.
 In the past 28 hours, the wallet has withdrawn 1.238T <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a> ($10.4M) from the CEX for the first <a href="https://twitter.com/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$PEPE</a> trade.
 Set the alerts for the wallet via our <a href="https://twitter.com/spotonchain?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@spotonchain</a> platform at… <a href="https://t.co/tcmCKxqMdn" rel="noopener noreferrer nofollow">pic.twitter.com/tcmCKxqMdn</a>
 — Spot On Chain (@spotonchain) <a href="https://twitter.com/spotonchain/status/1787011955745493388?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">May 5, 2024</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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.&nbsp;
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 <a href="https://coingape.com/pepe-price-rallies-whale-accumulates-4-tln-pepe-coin/" rel="noopener noreferrer nofollow">PEPE</a> price should surpass the last swing resistance of $0.0000108 to hit a potential target of $0.000012.
<h2 id="strong-technical-indicator-strong">Technical Indicator</h2>
<ul>
 <li style="font-weight: 400;" aria-level="1">BB Indicator: The uptick in the upper boundary of the <a href="https://coingape.com/education/bollinger-band/" rel="noopener noreferrer nofollow">Bollinger band</a> indicator highlights an active buying momentum among market participants.</li>
 <li style="font-weight: 400;" aria-level="1">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.</li>
</ul>
The post <a href="https://coingape.com/markets/pepe-coin-price-analysis-will-pepe-hit-0-00001-coming-week/" rel="noopener noreferrer nofollow">Pepe Coin Price Analysis: Will $PEPE Hit $0.00001 in the Coming Week?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

Pepe Coin Price Analysis: Will $PEPE Hit $0.00001 in the Coming Week?

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