<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/pepe-coin-records-notable-market-recovery/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Pepe Coin Records Notable Market Recovery</a><br></p>
<p style="text-align: justify">Following the recovery in the cryptocurrency markets, Pepe Coin (PEPE) experienced a significant recovery this week, rising from $0.00000592 to the current trading <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">price</a> of $0.00000842. This 42% increase on the daily chart revealed the formation of an inverse head and shoulders pattern.</p>
<h2 id="recovery-process-in-pepe">Recovery Process in PEPE</h2>
<p style="text-align: justify">This upward reversal pattern, commonly observed at the <a href="https://finance.coin-turk.com/" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">market</a>‘s local bottom, indicates a shift in market dynamics from selling at rallies to buying at dips. The frog-themed meme token PEPE entered its current recovery trend in mid-April, rebounding from a low of $0.00000393, and within a month, the token’s price surged by 128% to $0.00000893.</p>
<p style="text-align: justify">Following the mentioned recovery, the price of the PEPE cryptocurrency anticipated two higher low formations, indicating that buyers were actively accumulating this token during dips. Additionally, as reported by the on-chain data tracker Spot On Chain, a significant on-chain activity occurred recently, where a multi-signature wallet identified by the address 0x323 made significant moves with the cryptocurrency PEPE.</p>
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-347975 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/05/pepe-1.jpg" alt="" width="1572" height="726"></p>
<h2 id="investor-activity-in-pepe">Investor Activity in PEPE</h2>
<p style="text-align: justify">The mentioned wallet withdrew approximately 915.85 billion PEPE tokens, valued at about $7.75 million, from <a href="https://en.coin-turk.com/binance-announces-new-altcoin-and-staking-opportunity/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a>, the leading cryptocurrency exchange by volume. This transaction, in addition to the wallet’s last activities within the past 28 hours, withdrew a total of 1.238 trillion PEPE tokens (valued at approximately $10.4 million) for the first transaction involving this cryptocurrency.</p>
<p style="text-align: justify">Amid the renewed recovery atmosphere, this activity highlights PEPE’s higher growth potential. On May 4, cryptocurrency buyers made a definitive exit from the inverse head and shoulders model’s $0.000008 neckline resistance. If the chart model is accurate, the PEPE price may need to overcome the resistance of the recent pullback at $0.0000108 to reach a potential target of $0.000012. Consequently, Pepe Coin rose to $0.00000893 in the cryptocurrency market, marking a 128% increase. The inverse head and shoulders formation showed that buyers were accumulating the token during dips. A significant wallet withdrew $7.75 million worth of PEPE from Binance, indicating potential for a price rise.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/pepe-coin-records-notable-market-recovery/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Pepe Coin Records Notable Market Recovery</a></h5>

Pepe Coin Records Notable Market Recovery

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