PEPE coin’s market cap has fallen from $8.7 billion to $4 billion, marking a 50% decline
Large holders have withdrawn up to $20 million worth of PEPE from exchanges to cold storage
Technical indicators suggest the possibility of a bullish reversal from oversold conditions
Smart Money has shown interest with a net flow of $813K in recent trading
PEPE is attempting to break through a resistance zone at $0.00000780 with positive technical signals
The past month has been rocky for PEPE coin. The popular meme cryptocurrency has seen its value drop by half.
Its market cap fell from $8.7 billion to $4 billion. When measured from its all-time high of $11.12 billion, the decline is nearly 60%.
This downturn has made many investors cautious. Few are willing to buy at current prices. But some see this as a chance to dollar-cost average their holdings.
One positive sign is the behavior of large investors, often called “whales.” Reports show up to $20 million worth of PEPE has been moved from exchanges to cold storage.
This suggests these big players have faith in PEPE’s future. They’re holding for the long term rather than selling during the dip.
As of the latest data, PEPE is trading at around $0.00000789. Its 24-hour trading volume remains high at $905 million.
The price has fallen 8% over the past week. The 30-day decline stands at 42%.
Technical analysis shows some hope for recovery. The Relative Strength Index (RSI) indicates PEPE may be oversold. This often precedes a price bounce.
Other technical signs are also promising. Multiple confirmations of “Breaks of Structure” (BOS) and “Changes of Character” (CHoCH) suggest PEPE is reclaiming key support levels.
The coin is now attempting to break through a resistance zone at $0.00000780. If successful, it could target $0.00000850 in the medium term.
Open interest in PEPE has increased by 8.47% in 24 hours. This shows growing optimism among traders.
The funding rate has turned positive in the last 48 hours. This reflects a renewed appetite for risk in the market.
The long/short ratio stands at 1.41. This means buyers currently outnumber sellers, creating upward pressure on the price.
“Smart Money” traders have shown interest in PEPE. Data shows $1.14 million in buy volume against $323,000 in sell volume, creating a net flow of $813,000.
These sophisticated investors bought at an average price of $0.0000071. With current prices higher, they’re already seeing profits.
If PEPE breaks above $0.00000840, it could trigger further rallies. Targets include $0.00000900 and possibly $0.00000950.
Some analysts believe PEPE could even return to its December highs. This would represent a potential gain of 285%.
However, risks remain. If PEPE falls below $0.00000740, it could trigger a bearish breakdown. This might push prices down to $0.00000680 or lower.
The broader crypto market has also been volatile. This affects all cryptocurrencies, including PEPE.
Despite these challenges, PEPE’s community continues to grow. The token has surpassed 400,000 holders.
Social media activity remains strong. February saw consistent efforts to maintain community engagement through memes and discussions.
High-profile figures like Elon Musk have indirectly influenced sentiment around frog-themed tokens. This adds speculative momentum to PEPE’s potential comeback.
For now, PEPE remains in a critical position. It’s battling key resistance levels while showing signs of a possible recovery.
Long-term investors are watching macroeconomic factors that could influence the entire crypto sector. These include geopolitical tensions and traditional market uncertainty.
If the broader crypto market regains bullish momentum, PEPE could benefit. History shows that meme coins can recover quickly when market sentiment turns positive.
This articles is written by : Nermeen Nabil Khear Abdelmalak
All rights reserved to : USAGOLDMIES . www.usagoldmines.com
You can Enjoy surfing our website categories and read more content in many fields you may like .
Why USAGoldMines ?
USAGoldMines is a comprehensive website offering the latest in financial, crypto, and technical news. With specialized sections for each category, it provides readers with up-to-date market insights, investment trends, and technological advancements, making it a valuable resource for investors and enthusiasts in the fast-paced financial world.
By Nermeen Nabil Khear 
