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PEPE Struggles to Find Support as Losses Mount
The post PEPE Struggles to Find Support as Losses Mount appeared on BitcoinEthereumNews.com. PEPE is trading at $0.00001276, with a loss of over 15% in the last 24 hours. The meme coin’s daily trading volume has surged by over 58%. The trading day opened with the global crypto market cap sinking by over 5.19%, landing at $3.43 trillion. In parallel, the meme coin market cap fell to $101 billion, reflecting a 9.1% decline in the past 24 hours. PEPE, the third-largest meme coin, has suffered a loss of 15.09%. The prolonged bearish wave in the market has brought in intense price volatility. The frog-themed meme coin has formed a daily low of $0.00001288 from the peak of $0.00001509. At the time of writing, the meme coin was trading at $0.00001276 with its market cap staying at $5.37 billion. Furthermore, during this timeframe, the market witnessed a $6.03 million PEPE liquidation. Consequently, the meme coin’s daily trading volume reached $895 million. Contrarily, several whales have sold off large amounts of PEPE to Binance. Notable transactions include the deposits of 430 billion PEPE worth $6.39 million, 325.5 billion PEPE valued at $4.9 million, and 140.83 billion PEPE worth $1.98 million. Besides, 200.88 billion PEPE was sold for $2.85 million in USDC. Could PEPE See a Comeback? PEPE’s Moving Average Convergence Divergence (MACD) line is positioned beneath the signal line. This crossover indicates the weakening momentum and a sign to sell or avoid entering long positions. The Chaikin Money Flow (CMF) indicator found at -0.15 suggests a decreased money flow and strong selling pressure in the market. Meanwhile, the meme coin’s daily trading volume has increased by over 77.81%. The meme coin’s four-hour price chart exhibits a steady downside correction. Hence, it might retest the former support level at $0.00001254. If the selling pressure strengthens, the price of the meme coin could drop toward $0.000012 or…
The post PEPE Struggles to Find Support as Losses Mount appeared on BitcoinEthereumNews.com.
PEPE is trading at $0.00001276, with a loss of over 15% in the last 24 hours. The meme coin’s daily trading volume has surged by over 58%. The trading day opened with the global crypto market cap sinking by over 5.19%, landing at $3.43 trillion. In parallel, the meme coin market cap fell to $101 billion, reflecting a 9.1% decline in the past 24 hours. PEPE, the third-largest meme coin, has suffered a loss of 15.09%. The prolonged bearish wave in the market has brought in intense price volatility. The frog-themed meme coin has formed a daily low of $0.00001288 from the peak of $0.00001509. At the time of writing, the meme coin was trading at $0.00001276 with its market cap staying at $5.37 billion. Furthermore, during this timeframe, the market witnessed a $6.03 million PEPE liquidation. Consequently, the meme coin’s daily trading volume reached $895 million. Contrarily, several whales have sold off large amounts of PEPE to Binance. Notable transactions include the deposits of 430 billion PEPE worth $6.39 million, 325.5 billion PEPE valued at $4.9 million, and 140.83 billion PEPE worth $1.98 million. Besides, 200.88 billion PEPE was sold for $2.85 million in USDC. Could PEPE See a Comeback? PEPE’s Moving Average Convergence Divergence (MACD) line is positioned beneath the signal line. This crossover indicates the weakening momentum and a sign to sell or avoid entering long positions. The Chaikin Money Flow (CMF) indicator found at -0.15 suggests a decreased money flow and strong selling pressure in the market. Meanwhile, the meme coin’s daily trading volume has increased by over 77.81%. The meme coin’s four-hour price chart exhibits a steady downside correction. Hence, it might retest the former support level at $0.00001254. If the selling pressure strengthens, the price of the meme coin could drop toward $0.000012 or…
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