An ominous shadow looms over Pepe Coin’s trajectory as an analyst issues a warning regarding potential risks of a downturn or impending retracement. With a keen eye on technical indicators, the analyst emphasizes the cryptocurrency’s vulnerability, sending a cautionary signal to investors.
As uncertainties linger in the market, the forecasted retracement prompts stakeholders to tread carefully in their investment decisions, considering the potential impact on Pepe Coin’s value and stability.
Analysis by Crypto Expert Ali on Pepe Coin’s Outlook
Renowned crypto analyst Ali, known for insightful perspectives, takes to X (formerly Twitter) to share a compelling analysis stirring up the crypto community’s attention towards meme coins. In particular, the resurgence of interest in meme coins, spurred by TheRoaringKitty’s return, amplifies discussions around their viability and potential pitfalls.
Ali’s scrutiny focuses on Pepe Coin, highlighting indications of an impending retrace. Through technical analysis, Ali points out significant bear market signals observed on Pepe Coin’s 3-day chart, notably an aggressive 13 and a green nine candle. Further exacerbating concerns, a bearish divergence surfaces between the price action and the Relative Strength Index (RSI) which stands at the 41.02 level, painting a cautious outlook for Pepe Coin’s near-term performance.
Also Read: Crypto Market Up Today: Top Reasons Why BTC, ETH, SOL, XRP Prices Are Rising
Current Market Performance of Pepe Coin
Despite recent fluctuations, Pepe Coin (PEPE) maintains a price of $0.00001021 with a 24-hour trading volume of $1.3 billion. While experiencing a slight decline of -4.92% over the past 24 hours, the coin has seen a notable 24.59% increase in price over the past 7 days. With a circulating supply of 420 trillion PEPE tokens, the cryptocurrency boasts a market capitalization of $4.2 billion.
However, recent market movements reflect a regression in open interest, currently standing at 4.53%, with a valuation of $71.0 million. As investors monitor these metrics closely, Pepe Coin’s market performance remains subject to ongoing analysis and scrutiny amidst the evolving landscape of the cryptocurrency market.
Also Read: Shiba Inu Takes Center Stage With Dedicated Payment Page On Binance Pay
The post PEPE Coin Faces Potential Dip With Looming Retracement, Analyst Warns appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed