Failed PEPE Price Recovery Leaves $600 Million Worth of Profits in Limbo

PEPE Price Poised for Recovery, Profits Dependent on Crucial Breakout

PEPE's price has been stagnant, hindering the realization of potential profits. However, meme coin enthusiasts remain optimistic about a recovery if a critical resistance level is overcome.

PEPE Profits on the Line

Trading at $0.00000881, PEPE awaits a bullish catalyst to initiate a rally. Investors' profits have been tied up during the meme coin's consolidation phase.

The Global In/Out of the Money (GIOM) indicator suggests that approximately 70 trillion PEPE tokens, valued at over $617 million, were acquired within a price range of $0.00000800 to $0.00000990. These holdings will become profitable only when PEPE establishes $0.00001000 as a support level.

Despite the significant potential profits, demand remains low, as evidenced by the Relative Strength Index (RSI). The RSI's bullish momentum appears weak, indicating that buying interest is insufficient to sustain an upward price trajectory.

Weak RSI momentum often signals that an asset may encounter resistance or struggle to advance further. Moreover, the market is currently dominated by selling pressure, which further compounds the challenge.

PEPE Price Prediction: Breakout Potential

PEPE's price will only break free from consolidation and establish support at $0.00001000 if demand surges. As broader market cues are currently weak, recovery may take some time.

In this scenario, profits will remain out of reach for investors until a breakout occurs. A successful breakout could lead to a price target of $0.00001146.

Conversely, a sell-off to $0.00000775 would prolong the consolidation phase. This could weaken the bullish outlook and expose the meme coin to further declines.