- Pepe (PEPE) currently holds the highest position on CoinMarketCap’s trending list.
- PEPE’s price has declined over 6% and is currently traded at $0.000001465.
- PEPE’s 24-hour trading volume has surged over 26% to approximately $96.66 million.
According to CoinMarketCap, a leading platform for monitoring the cryptocurrency market, Pepe (PEPE) currently holds the highest position on its trending list. This follows a decline of over 6% in the price of this meme coin, which is currently being traded at $0.000001465. Despite this 24-hour loss, PEPE could potentially test a significant resistance level within 48 hours.
The recent decline in the cryptocurrency’s price has further exacerbated its negative weekly performance, reaching -9.87%. However, it is worth noting that the cryptocurrency’s 30-day performance remains significantly positive, firmly positioned in the green zone at +57.27%.
In addition, PEPE experienced a notable surge in its 24-hour trading volume, witnessing a growth of over 26% within the previous day, resulting in a substantial volume of approximately $96.66 million. Following its remarkable peak of $0.000004354 in May 2023, PEPE’s value has since declined by over 66%, currently trading at its present level.
When writing, the meme coin’s price consolidated around a critical support level of $0.0000014721. Although the altcoin briefly dipped below this significant price level earlier in today’s trading session, bullish investors intervened to support PEPE’s price, propelling it back above the threshold above.
Should the meme coin surpass the closing price of $0.0000014721 by the end of today’s trading session, it could potentially strive to breach the resistance level at $0.0000016852 within the next 24-48 hours. Sustained buying pressure may further propel the price of PEPE to reach as high as $0.0000019075 in the upcoming week.
On the other hand, if PEPE experiences a daily close below $ 0.00000721 today, it may decline further to $0.0000013821 in the coming days. It is crucial for traders and investors to closely monitor the 9-day EMA line, as it is currently on the brink of crossing below the 50-day EMA line, which is a significant technical indicator in the cryptocurrency industry.
If this cross occurs, PEPE is likely to experience a medium-term bearish trend, potentially leading to a price decline of up to $0.0000012939 within the upcoming week. However, this bearish outlook will be rendered invalid if there is a daily close above the 9-day EMA line, situated around $0.0000016062.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
