What to Expect from PEPE; Will It Hit New Highs in the Future?

• The PEPE crypto price increased by 3.2% in the last seven days.
• The PEPE crypto was first launched on April 14th, 2023.

Pepe (PEPE) is a meme coin inspired by Pepe the Frog. It has no presale, taxes, or utility. It aims to be listed on crypto platforms and create a meme community. PEPE is for fun and entertainment only.

The spot trading volume of the PEPE crypto has increased by 25.35% in just the last 24 hours. This has resulted in a traded volume worth $75.39 Million. Following this rise in the trading volume, the market cap of the crypto has increased by 2.51%.

The current market cap ranking of the PEPE crypto, as per CoinMarketCap, is 112th and the value of the market cap is $523.93 Million. Additionally, the current volume/market cap ratio of the crypto is 13.62% and the max supply is 420.69 Trillion PEPE.

PEPE Crypto Derivatives Analysis

The derivatives trading volume of the PEPE crypto has increased by 46.7% in the last 24 hours, resulting in $35.77 Million. Furthermore, the open interest has increased by 1.58% and the long/short ratio of the crypto is 0.9342 while the long liquidation for the crypto is $20.99K.

PEPE Crypto Technical Analysis

On the daily chart, the PEPE crypto is trading inside a falling wedge pattern and is taking support at a crucial level of $0.000001015. If the price of the crypto breaks below this level, we might witness a further decline on the chart.

However, if the price of the PEPE crypto sustains above the support level and breaks on the higher side, we might get to see a breakout of the price. 

PEPE/USD Chart by TradingView.com

The EMAs and the other indicators are indicating volatility on the charts as they indicate uncertainty in the price of the PEPE crypto.

The 20 and 50-Day EMAs have overlapped with each other, with the 20–Day EMAs trading below them.

The MACD and the signal lines are situated below the zero level and the histograms formed on the indicator are very small, which suggests a lack of direction in the trend.

The RSI is also revolving around the 50 level, and in a small and tight range overlapping with the 14-Day SMA.

Summary

The PEPE crypto’s price, volume, and market cap have shown a sharp uptick. Technical analysis shows a falling wedge; indicators indicate volatility. Based on the current scenario, one must wait for the price of the crypto to break above the wedge pattern.

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.