PEPE Coin's price is currently raising confusion among investors. It has grown by 5% over the past 24 hours, yet showed a decline of 9% within the week. Let’s delve into the details.
Decrease of PEPE Reserves on Exchanges
Over the past week, PEPE Coin's exchange reserves dropped by 2.73%, leaving a total of 250.13 trillion tokens on centralized platforms. This indicates that more than 7 trillion tokens were withdrawn from exchanges like Binance and OKX, suggesting holders are not looking to sell anytime soon, often seen as a bullish signal.
Volume Indicators and Bear's Edge
Indicators such as On-Balance Volume (OBV) show that trading volume for PEPE has decreased by over $130 trillion recently, but the trend is leveling out. This could mean that selling pressure may be over, and new buyers are entering the market. Meanwhile, bear strength is weakening, with the price not dropping below $0.00001000.
Price Outlook for PEPE
Currently, PEPE's price is hovering around $0.00001049. To initiate a potential 40% rally, the price needs to break above $0.00001136. Conversely, a drop below $0.0000098 could entirely invalidate the bullish sentiment.
Despite various signals in price dynamics, PEPE Coin sits at the brink of a potential rally or downturn. Investors should closely monitor further changes.
