Will PEPE Crypto Topple The Dogecoin In the Crypto Bull Run?

• 1 PEPE coin witnesses a decline in derivative trading volume in the last 24 hours.
• 2 The community is bullish on the PEPE crypto as per Coingecko.

PEPE coin is a meme coin often a digital currency made to overtake other meme coins in the market. The specific creator of the coin is still unknown, few believe that it was created by Matt Furie but this is totally wrong. The coin has no intrinsic value and serves as a meme coin. The coin is built on ETH standards and follows the ERC 20 blockchain field token standard. The coin was launched on crypto exchanges for the first time on 14 April 2023.

The spot volume for the crypto has declined by 6.11% in the last 24 hours, resulting in $41.59M. It is followed up by a market cap of $280.26M. The market cap has advanced by 0.93% in the last 24 hours. The PEPE crypto has a volume/market cap ratio of 14.84%. 

The PEPE crypto has a circulating supply of 391.79T PEPE coins and the fully diluted market cap is $301.04M. It has a total supply of 420.69T PEPE. The coin’s 93.13% of the total supply is flowing in the market available for trading. The PEPE has a market cap dominance of 0.027%.

PEPE Crypto Price Technical Analysis 

PEPE coin is trading inside a falling wedge pattern making bearish candlesticks. The current chart represents a lack of volume in the crypto as it is making uncertain spikes in candlesticks. Currently, the crypto is making lower low swings taking resistance from higher levels.

Due to a consistent decline in PEPE coin price, the 50-day EMA is trading above the price. The RSI is also bearish on the charts as it does not indicate any momentum on the charts trading below the 50-level. In conclusion both the technical indicators indicate a sell signal.

PEPE Liquidation Analysis

The derivative volume for the PEPE coin has not shown any significant spike or activity for a long time. This lack of volume represents the lack of the trading community’s interest in crypto.

Conclusion

The PEPE crypto is following a bearish market structure creating new lower low swings following with bearish break of structure. The technical indicators like the RSI and the EMA are also acting bearish on charts. The crypto community has also not posted any significant project or activity. This leads to a lack of interest in traders.

Therefore, the PEPE coin price is expected to decline to further lower levels and may also stay volatile to bearish due to the lack of volume in crypto.

Technical Levels 

• Support levels- $0.00000020 and $0.00000060
• Resistance levels- $0.00000150 and $0.0000020

Disclaimer

The views and opinions stated by the author or any other person named in this article, are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.