Pepe Coin price, a popular meme-based cryptocurrency, continues to decline, trading near $0.000012 after falling 20% last week. The broader crypto market remains volatile, with bearish trends dominating. PEPE has steadily dropped since reaching its all-time high, leaving investors uncertain about its prospects. Market conditions could influence whether PEPE becomes a potential buying opportunity.
Here’s Why Pepe Coin Price Signals Potential Bullish Rally
Pepe coin price is down 60% from its all-time high of $0.00002825, recorded in December 2024. However, a potential rally could be on the horizon with the 30-day Market Value to Realized Value (MVRV) metric signaling a buying zone, according to analyst MaxPain.
When MVRV enters this zone, price rebounds have followed. Past data shows that PEPE saw a 72% rally, a 71% surge, and a 51% increase after similar signals.
Current market conditions suggest that PEPE is in an accumulation phase, with MVRV dipping into the buy zone again. If history repeats itself, the price could see a notable uptrend. If PEPE follows previous trends, another price surge may soon unfold.
PEPE Price Could Surge as Accumulation Grows
Pepe Coin price could see a bullish trend as exchange supply declines while accumulation by non-exchange wallets rises. Data from Santiment reveals a steady drop in tokens held on exchanges, often seen as a signal of reduced sell pressure.
The amount of PEPE held by top non-exchange addresses increases, indicating investor confidence and long-term holding strategies.
This shift suggests that more investors are moving their tokens off exchanges, reducing potential sell-offs and enhancing market stability. Historically, such trends have preceded price surges, making this development a positive sign for PEPE’s future outlook.
PEPE Technical Analysis
PEPE token has faced significant downward pressure, as seen in its recent performance on the chart. It corrected heavily after a sharp rally earlier, returning to a crucial demand zone, even as Pepe coin whales continued to buy.
This highlights a daily order block and a weekly fair value gap, indicating potential support for the token’s price. These levels could be key in halting the current downtrend if buying pressure resumes.
The price action reveals a strong historical support region near the $0.00000120 level. To regain bullish momentum, PEPE must reclaim key resistance levels above the $0.00000150 mark. Otherwise, further downside risks loom, especially if the demand zone fails to hold.
Is it a Good Time to Buy PEPE Price Now?
The price of Pepe Coin is trading at $0.000012, with a decrease of 3% in the past 24-hours. After explosive growth in 2024, driven by social media hype and meme coin speculation, the token has entered a consolidation phase.
After months of silence, recent whale activity reignited attention, as wallet “0xc25” deposited 500 billion PEPE worth $5.73 million. Pepe’s performance now hinges on sustaining momentum amid declining enthusiasm in the crypto space.
A $3K bet turned into $51.25M—now this PEPE whale is making moves again!
After six months of silence, whale “0xc25” deposited 500B $PEPE ($5.73M) to #Coinbase ~11 hours ago.
This whale bought 4.914T $PEPE for just $3.01K on April 15, 2023, gradually cashed out 3.66T $PEPE for… pic.twitter.com/8jLyIcesXE
— Spot On Chain (@spotonchain) January 29, 2025
Pepe price presents a potential buying opportunity as technical and on-chain metrics align, signaling possible bullish momentum. With accumulation rising and market conditions stabilizing, investors could benefit by entering now.
The post Pepe Coin Price Down 60% From ATH: Is PEPE Good Buy Now? appeared first on CoinGape.
Post A Comment:
0 comments so far,add yours