The post PEPE Price Soars 21%, 243,500 Investors in Profit appeared first on Coinpedia Fintech News
PEPE has been making waves lately, with a 21% jump in its price over the past week, bringing its trading value to $0.00001098. For those holding PEPE, this was a huge boost: around 243,500 investors, or about 77% of holders, are now in profit. While this rise has stirred up excitement, many investors are still wary. Could PEPE keep rising, or will it lose steam?
A Bullish Signal Hints at a Big Breakout
What’s got traders buzzing is a bullish pennant pattern that’s been forming since March. Patterns like this can often signal big moves, and some analysts are saying PEPE could even go up by 200% if it breaks out. But before we get too excited, there’s still a resistance level to beat between $0.000010 and $0.000012. Breaking through that range might just be what PEPE needs to take off. Right now, the support level sits at $0.0000098870, which aligns with the 200-day moving average. That’s a good sign for those hoping PEPE holds its ground.
Despite the excitement, not everyone’s jumping on the train. The long-short ratio, which is slightly leaning towards more shorts at 0.95, shows that a few traders are still skeptical. They’re probably waiting to see if this rally holds up.
PEPE Buying Pressure Builds Up
If you look at the data, you’ll notice something interesting: buying pressure is on the rise. On-chain data shows a lot of PEPE is moving out of exchanges, which usually means investors are holding onto it rather than planning to sell. That’s usually a good sign. However, some “whales” (the big holders) have been selling a bit of their stash, which has some investors a little nervous. Still, the overall sell volume has dropped sharply from 100 to just 17. Lower sell pressure generally signals a steady market, and for PEPE, that could mean more stability.
The Relative Strength Index (RSI) has dipped a bit too—from 74 down to 60. It’s not a huge drop, and staying at 60 means PEPE is still in the bullish zone. It’s like a pause, maybe even a healthy one, as the price finds its footing for whatever comes next.
What’s Next?
For now, PEPE investors seem optimistic, but some are keeping a cautious eye out, especially if the whales decide to cash in. Reduced sell pressure and strong buying signals could mean PEPE’s rally isn’t over, though. As long as the price holds above support levels and manages to break through resistance, this could be the start of something big for PEPE holders. Either way, the next move will be key in figuring out if this rally has lasting power.
