Popular from meme coins While one is experiencing a rapid rise, current indicators suggest that we may see a decline in price. We have seen the rapid increases of recent weeks reverse much more rapidly. This was related to a significant erosion of risk appetite. However, the situation is a little different for PEPE Coin.
PEPE Coin Comment
The frog-themed meme coin on the Ethereum network made quite a splash when it entered the markets. Despite major upheavals and team-related problems, it managed to survive and attracted significant volume. In the long run, it may be one of the alternatives that will succeed among meme coins, but in the short term, the outlook is not that positive. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
The change in Average Coin Age (MCA) is greater crypto- indicates that the money is in circulation or is being held. The increase in the 90-day MCA data for PEPE Coin means that the circulation is moving for more sales.
The return of long-held PEPE Coins to the market usually leads to trading activity. Investors may be moving their wallets for sale. If this trend continues, the token’s recent performance may be negatively affected.
On-chain data also suggests that the number of addresses that have increased their PEPE Coin holdings in the last 30 days has weakened, which is the second important signal supporting the short-term bearish narrative.
PEPE Coin Price Prediction
On the technical front, volume is the third problem. For a significant price increase and stability of the rise, volume weakness is negative. This also indicates that the weakening process may begin. When we examine the chart, we also see that the price, which is stalled below the demand zone between $0.0000085 and $0.0000088, cannot confirm the recent rise.
If the negative scenario happens as expected PEPE Coin We may see its price drop to $0.0000070 once again. Coinbase It is true that speculations that the stock exchange will list the stock market are relatively supportive of the price. However, this is also a speculation that is more likely to be denied as time goes by.
Maybe Coinbase exchange will make the announcement for listing and PEPE Coin If short-term accumulation signals for the stock market strengthen again, the $0.00001 target may come to the fore. For now, it seems beneficial for investors not to ignore the risk of double-digit losses.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
