- Pepe coin price is trading at $0.00000821 while observing a decline of 1.97% during the intraday trading session.
- Moving averages reflect strong positive signals while the oscillators are negative.
- The trading volume has increased by 13.29% in the last 24 hours.
PEPE is one of the meme coins available in the world of cryptocurrency. It is a deflationary meme coin launched on the Ethereum network. Matt Furie created the cryptocurrency as a tribute to the Pepe the Frog meme on the internet. The project strives to establish itself as one of the top meme-based cryptocurrencies by capitalizing on the popularity of meme coins.
PEPE Coin’s Six-Month Growth Has Reached Over 1000%
The PEPE coin price gained a positive response from the whales at $0.00000062 in October 2023. In a single rally, the price surged 180% to the $0.00000175 supply zone. Subsequently, the price made a bullish correction on the $0.00000089 decisional POI.
On February 27, 2024, the price made an impulsive bullish candle and gave a breakout from the $0.00000189 resistance level. It changed the entire direction of the Pepe crypto price. The price has witnessed over 470% growth after the breakout in February 2024.
The fully diluted market capitalization of PEPE is $3.41 billion, which shows the complete valuation of this project. The maximum supply of the tokens has been locked to 420.69 trillion PEPEs. That makes the cryptocurrency deflationary in nature.
Price to Volume and Social Dominance Analysis
The meme coin has gained so much social appreciation after February 25, resulting in a hike in price and volume. Social dominance reached 2% in early March 2024 in the entire cryptocurrency network. That made Pepe a dominant force among the meme coins.
24-hour trading volume is at $1.79 Billion, making PEPE ranked 14th among all the 9,210 active cryptocurrencies per the CoinMarketCap.
Technical Analysis of the PEPE Coin Price
The meme coin price is moving above the 50-day and 200-day exponential moving averages. That reflects the bullish sentiments in the current trading session. Earlier, both the EMAs had a golden crossover at $0.00000123, indicating a solid uptrend.
PEPE price is making a bullish correction on the $0.00000603 decisional point of interest. Earlier, the price surged 470% from the $0.00000189 crucial resistance. In the last three sessions, the price made a reversal move from the $0.00000603 POI.
The price is aiming toward the $0.00001080 resistance level. Regarding the technicals, the price can surge further up if it breaks above that resistance. For the bearish look, the Pepe crypto price should close below $0.00000498.
Moreover, the relative strength index (RSI) reflected a bearish divergence above the 70-mark upper band. It indicates the increase in selling pressure compared to the buying. The RSI is moving at 60.43 below the signal line.
Summary
The PEPE is one of the most popular meme coins, and it is gaining a lot of attention these days. This meme coin has the potential to compete with other meme coins like Shiba Inu and Dogecoin.
PEPE price gained a bullish response from the whales at the end of February 2024, giving a return of over 470%. The current price is aiming toward the $0.00001080 resistance level. Regarding the technicals, the price can surge further up if it breaks above that resistance. On the flip side, the Pepe crypto price should close below $0.00000498.
Technical levels
- Resistance Levels: $0.00000861 and $0.00001080
- Support Levels: $0.00000603 and $0.00000498
Disclaimer
The views and opinions stated by the author or any people named in this article are for informational purposes only. They do not establish financial, investment, or any other advice. Investing in or trading crypto or stock comes with a risk of financial loss.