Price: $0.19483 -0.1337%
Market Cap: 28.58B 1.1123%
Volume (24h): 4.36B 0.2%
Dominance: 1.1123%
Price: $0.19483 -0.1337%
Market Cap: 28.58B 1.1123%
Volume (24h): 4.36B 0.2%
Dominance: 1.1123% 1.1123%
  • Price: $0.19483 -0.1337%
  • Market Cap: 28.58B 1.1123%
  • Volume (24h): 4.36B 0.2%
  • Dominance: 1.1123% 1.1123%
  • Price: $0.19483 -0.1337%
Home > Information news > PEPE price prediction: Is another 13% decline on the way?

PEPE price prediction: Is another 13% decline on the way?

Release: 2024/06/25 06:08 Reading: 728

Original author:AMBCrypto

Original source:https://ambcrypto.com/?p=401749

PEPE Holders May Cash Out as Price Prediction Remains Bearish

In the past week, Pepe [PEPE] bulls anticipated reversing the downward trend, but the situation has shifted in the past 24 hours. The rise in selling pressure for the meme coin coincided with Bitcoin's [BTC] drop below $64.8k on June 21st. The bearish sentiment in the crypto market suggests a retest of the support zone.

Bullish Order Block: Can It Save PEPE?

PEPE is likely to experience another double-digit percentage price drop. The PEPE price prediction forecasts a move towards the $0.0000093 support zone (cyan box), a bullish order block established in mid-May.

The RSI on the daily chart has remained below neutral 50 in June, indicating a bearish market structure flip when PEPE fell below the $0.00001314 support. The OBV is also barely holding onto a local support level.

Selling Pressure May Subside

Data from IntoTheBlock reveals that 77.58% of PEPE holders are in the money, indicating profits despite the downtrend. A significant portion of PEPE tokens in profit were purchased in the $0.000002-$0.000003 zone, where the token's uptrend began in late February. However, a larger percentage of tokens are out of the money around the current price, potentially creating selling pressure from holders looking to break even.

In the short term, a price dip is anticipated. However, the uptrend may resume after a retest of the $0.0000093 bullish order block.

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