Pepe
By market value By market value, the world’s third largest stablecoin failed to make returns exceed the simple moving average of 100 days (SMA) The holder continues to distribute or sell.
According to Coindesk, the cryptocurrency briefly took a 100-day SMA of $0.00001009, and then reversed SPIKE by 1%, lowering the price by 1%, and lowering the price by 1%.
Volume pattern indicates distribution rather than accumulation, and there are four different periods of mass sales that produce a downward trend line of resistance. This is after a large transfer of exchange transfers, suggesting potential liquidation by large merchants. Recently, whale transfers include a 500 billion Pepe ($38.5 billion) movement, highlighting the ongoing fluctuations in the Meme token space, according to Coindesk’s AI Insights.
Broadly speaking, the token remains locked within the lateral range determined by the trend lines registered on June 25 and July 3 on June 22 and July 2. The channel’s crash will suggest a continuation of the downward trend on May 23.
Key AI Insights
- The technical indicators of PEPE are still mixed together, with an RSI of 44.29 and are classified as neutral.
- In recent hours, the price action of the token has shown a huge sell-off, with an unusually high volume, resulting in a reduced resistance trend line.
- Despite these challenges, analysts have great long-term potential, with some forecasts suggesting that PEPE could reach $0.000035 by 2025 and $0.0258 by 2030.
- Despite profits, Pepe Coin keeps key support at $0.00000099, forming an integrated model of $0.0000099 to $0.0000102.
- Memecoin department showed rotation, while Bonk’s ETF buzz surged 6-7%, while Dogwifhat dropped 4-10%, testing key support in the case of a drop in numbers.
