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  • Coin Marketcaps
  • Home
  • Crypto
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  • Web 3
    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

    IOT in E-Commerce Market Is Going to Boom | Major Giants Amazon,Alibaba,eBay

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    Ethereum Collections Lead NFT Sales Today

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    how NFTs became a global brand and a Web3 “social currency”

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    CryptoPunks Floor Price Hits 3-Year High of $208,000

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    NFT sales surge to $574 million in July, second-highest in 2025

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    CryptoPunks price surges to $200k, $PUNKS loaner Gondi accused of facilitating chandelier bids

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    Ethereum NFT Sales Surge 56% in July 2025 as Alt-Chains Lose Market Share

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    The Squid Fighter game is taking Telegram by storm — join the fight and claim your NFT before it’s too late!

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    Early Off the Grid Skin Holders Are Cashing In – Will You?

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    This Game Lets You Relive the Ethereum Story Through Vitalik Buterin’s Eyes

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    NFTs at Your Fingertips: Inside Japan’s NFT Vending Machine Trend

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    Capturing the Growth of Asset-Backed Finance via Blockchain-Enabled Opportunities

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    NetMindAI Partners with Neurochain AI to Revolutionize Decentralized AI Services

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Home Altcoins

Pepe Coin’s price dips 8% in last 7 days – Future predictions?

December 15, 2023
in Altcoins
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Dogecoin offers a buying opportunity at this price level
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Journalist

Posted: December 16, 2023

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • PEPE has a strong bullish bias after flipping the bearish OB to support.
  • The monthly high from July is the next target for buyers.

Pepe [PEPE] ranks fourth in the meme coin category on CoinMarketCap but has performed commendably in the markets over the past three weeks. Despite a substantial pullback, PEPE had a firm bullish bias on the long-term price charts.

Technical analysis by AMBCrypto laid out strong reasons why PEPE is likely to continue its rally. Yet, some on-chain metrics cast doubts on the strength of the bulls.

The bullish breaker block should serve as a strong support

PEPE

Source: PEPE/USDT on TradingView

On the one-day price chart of PEPE, the $0.00000014 area represented a bearish order block from mid-August. In the chart above, it was highlighted by a cyan box. Moreover, the $0.00000148 level has been significant since July.

In December, the meme coin managed to rush past this resistance zone due to intense buying pressure as seen on the volume bars.

Thereafter, the price retested this region as a support zone and managed to bounce to the $0.00000148 resistance. This meant that the bearish OB had been flipped to a bullish breaker block.

The Fibonacci retracement levels (pale yellow) noted that the 50% and 61.8% levels have been tested and were defended thus far. Combined with the bullish breaker block, it is likely that PEPE can move higher once more.

See also  LINK embarks on a crazy bullish run after breaching its 18-month resistance

The metrics suggested bullish fervor was weakening

PEPE

Source: Santiment

The supply on exchanges as a percentage of total volume has been falling since late October. This was a strong sign that market participants had been hoarding PEPE and hadn’t moved them to CEXes to sell.

However, the mean coin age has also trended downward. This was in contrast to the previous metric and suggested that PEPE movement between addresses was significant and foreshadowed sell pressure.


Realistic or not, here’s PEPE’s market cap in BTC’s terms


The social volume saw some small spikes in recent weeks but has not trended higher alongside the prices.

Meanwhile, the MVRV ratio was highly positive. This suggested the meme coin may be overvalued and that holders could seek to liquidate some of their holdings to realize profits.

READ ALSO

CryptoGames now supports Tether (USDT) for deposits and announces partnership with Bitinvestor

Toncoin heats up: What does $398M in trading volume indicate?

Journalist

Posted: December 16, 2023

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

  • PEPE has a strong bullish bias after flipping the bearish OB to support.
  • The monthly high from July is the next target for buyers.

Pepe [PEPE] ranks fourth in the meme coin category on CoinMarketCap but has performed commendably in the markets over the past three weeks. Despite a substantial pullback, PEPE had a firm bullish bias on the long-term price charts.

Technical analysis by AMBCrypto laid out strong reasons why PEPE is likely to continue its rally. Yet, some on-chain metrics cast doubts on the strength of the bulls.

See also  PEPE Price Forecast - Here's When is The Right Time To Buy Pepecoin

The bullish breaker block should serve as a strong support

PEPE

Source: PEPE/USDT on TradingView

On the one-day price chart of PEPE, the $0.00000014 area represented a bearish order block from mid-August. In the chart above, it was highlighted by a cyan box. Moreover, the $0.00000148 level has been significant since July.

In December, the meme coin managed to rush past this resistance zone due to intense buying pressure as seen on the volume bars.

Thereafter, the price retested this region as a support zone and managed to bounce to the $0.00000148 resistance. This meant that the bearish OB had been flipped to a bullish breaker block.

The Fibonacci retracement levels (pale yellow) noted that the 50% and 61.8% levels have been tested and were defended thus far. Combined with the bullish breaker block, it is likely that PEPE can move higher once more.

The metrics suggested bullish fervor was weakening

PEPE

Source: Santiment

The supply on exchanges as a percentage of total volume has been falling since late October. This was a strong sign that market participants had been hoarding PEPE and hadn’t moved them to CEXes to sell.

However, the mean coin age has also trended downward. This was in contrast to the previous metric and suggested that PEPE movement between addresses was significant and foreshadowed sell pressure.


Realistic or not, here’s PEPE’s market cap in BTC’s terms


The social volume saw some small spikes in recent weeks but has not trended higher alongside the prices.

Meanwhile, the MVRV ratio was highly positive. This suggested the meme coin may be overvalued and that holders could seek to liquidate some of their holdings to realize profits.

See also  XRP's climb back to $0.60 explained - Ripple effect?
Tags: CoinsdaysDipsFuturePEPEpredictionsPrice

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