bullish

PEPE

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/pepe-holders-drive-price-recovery-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">PEPE Holders Drive Price Recovery</a> 
PEPE price follows broader market cues preventing the <a href="https://en.coin-turk.com/bitcoins-drop-affects-pepe-coins-performance/" data-wpel-link="internal" rel="noopener noreferrer nofollow">memecoin</a> from breaking out of its upward pattern. However, PEPE holders are optimistic about a rise and are taking advantage of low prices despite no similar sentiment from new investors. PEPE’s price recovery could be driven by investors if not by the broader market.
<h2 class="p1" style="text-align: justify" id="what-s-happening-on-the-pepe-front">What’s Happening on the PEPE Front?</h2>
Current holders are actively seeking a price recovery by purchasing over 4 trillion tokens worth approximately $30.8 million from exchanges in just three days. In some cases, the supply moving from exchanges to investors’ wallets is considered a sign of concern. However, with no instability in any crypto exchange at the moment, this accumulation at a low price indicates bullish sentiment among current holders.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384423 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/pepe-1.webp" alt="" width="2048" height="693">
While this buying activity may stabilize PEPE’s price and show confidence in its <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a>, there are concerns about traction among new investors. Despite the accumulation by current holders, PEPE’s adoption rate remains stagnant, showing little interest from outside the existing <a href="https://finance.coin-turk.com/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">investor base</a>.
The lack of new investor interest is worrisome because it suggests PEPE may struggle to sustain long-term growth. Without fresh capital, the altcoin’s broader market appeal is limited, posing a risk to its future viability. If PEPE continues to struggle to attract new investors, its bullish momentum may weaken, potentially leading to a price collapse.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384422 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/itb-8.webp" alt="" width="1200" height="800">
<h2 class="p1" style="text-align: justify" id="pepe-chart-analysis">PEPE Chart Analysis</h2>
PEPE price is currently focused on an upward trend from the support level of $0.0000075. Trading at $0.00000766 at the time of writing, the memecoin has held above this support level for the past 72 hours. Mixed sentiments from investors may prolong this effort, and the memecoin may continue to move sideways.
However, a breakout from this point could help PEPE rise and surpass the upper trendline of the descending wedge. This bullish trend suggests that an 81% rise is likely following the breakout, bringing it closer to its all-time high of $0.00001725.
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter wp-image-384421 size-full" src="https://coin-turk.com/wp-content/uploads/2024/08/pepe-grafik.webp" alt="" width="1755" height="768">
On the other hand, there is a possibility that demand among PEPE holders may eventually decrease. The ultimate combination of low traction and low demand could tip the scales in favor of the bears. As a result, the memecoin may fall to test the critical support of $0.00000633. Losing this level would completely invalidate the bullish trend.
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/pepe-holders-drive-price-recovery-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">PEPE Holders Drive Price Recovery</a></h5>
The post <a href="https://en.coin-turk.com/pepe-holders-drive-price-recovery-2/" data-wpel-link="internal" rel="noopener noreferrer nofollow">PEPE Holders Drive Price Recovery</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.

PEPE Holders Drive Price Recovery

Table of Contents

COINTURK NEWS

Other articles published on Aug 30, 2024

Machi Big Brother announces $5M token presale event

Magic Eden Announces Official Ecosystem Token, ME

Nigeria’s SEC Grants Preliminary Approvals to Seven Crypto Service Operators

Dogecoin and Binance Coin whales flock to Intel Markets after audit

Justin Sun Addresses Concerns Over 12,000 Bitcoin Withdrawal from USDD’s Collateral

Bitcoin Reserves in Exchanges Hit Record Low

Join our free newsletter for daily crypto updates!