PEPE Coin Price Bounces, the third-largest meme coin in the world, has achieved a 4% increase on the upside, defying the general market decline that has been occurring. At the time of this publication, the price of PEPE is currently trading at $0.0000114, and its market capitalization is $4.8 billion. Additionally, the daily trading volume for PEPE coin is currently at $726 million during this period. According to the technical chart, the meme currency is presently trading at a vital juncture and in a circumstance that might completely change the course of its future.
PEPE Coin Price – A Do Or Die
According to the technical chart, the most critical support levels for the PEPE Coin Price Bounces are currently being tested at $0.000011. Compared to other leading cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH), the meme coin PEPE is among the most important. Its relative strength is significantly higher than that of other cryptocurrencies.
PEPE is converting its prior all-time high into a support level after successfully retesting the 100-day exponential moving average (EMA) for one day. According to the observations of Crypto Scient, traders are keeping a close eye on the possibility of a breakout from the one-day downtrend, which indicates an excellent opportunity to go long on PEPE.
Crypto Patel, another cryptocurrency analyst, draws attention to a vital time for PEPE. He notes that for the meme coin to restart its upward trajectory, it must maintain its position at the crucial support level of $0.000011. On the other hand, Patel indicated that PEPE could be subject to a severe downward move of up to forty percent if it cannot retain this support level. CoinGape has also stated that the PEPE Coin Open Interest has been on a downtrend, which indicates that there will not be any bullish momentum in the future.
A Look Into Other Meme Coins
PEPE Coin Price Bounces has moved to the upside, but its immediate competition, Dogwifhat (WIF), has experienced a shocking 8% decline, bringing its price down to $1.77. This WIF cost reduction has occurred amid significant whale sell-offs over the past two days.
Earlier today, a WIF whale deposited 12.66 million WIF coins to the cryptocurrency exchange Binance, worth $23.4 million. On the other hand, Shiba Inu has experienced a significant increase in the burn rate due to the number of SHIB tokens. That has been burned, increasing by 1,100% in just one day.
