Pepe (PEPE) Consolidates Around $10 Billion Market Cap, Could It Run To Over $100 Billion In 2025?
The post Pepe (PEPE) Consolidates Around $10 Billion Market Cap, Could It Run To Over $100 Billion In 2025? appeared on BitcoinEthereumNews.com.
Pepe (PEPE) has been making waves in the crypto market, holding steady at a $10 billion market cap. As interest grows, analysts debate whether the token has what it takes to break into the $100 billion range by 2025. With meme coins often driven by community enthusiasm and speculative trends, PEPE’s trajectory will likely depend on sustained investor interest and market conditions. PEPE Holds Steady On Blockchain Activity According to data from Coinglass, PEPE spot metrics revealed over $2.61 billion in outflow over the past week. This massive outflow from exchanges typically indicates potential upside momentum as investors hold on to tokens in personal wallets or cold storage. The less PEPE in exchanges, the higher the value of its scarce tokens. On December 14, a dormant whale account became active, moving its entire balance worth 2.1 trillion PEPE. The investor initially bought these tokens for $27, and now, the same tokens are worth over 1,900,000 times that amount. These kinds of big shifts typically indicate that whales have faith in the asset or are getting ready for price changes. At 4.15, Binance’s PEPEUSDT Long/Short Ratio shows a high level of trader interest. At the moment, around 20% of top Binance traders hold short, while 80% hold long positions. What are The PEPE Technicals Saying? Per technicals, PEPE has formed a descending triangle pattern after a short consolidation period around the $10 billion market cap. PEPE could close a week-long candle above the $0.000032 level with a breakout imminent. According to price prediction analysis, PEPE is forecast to rise by 226% and reach $0.000074 by January 16, 2025. With a 14-day RSI of 51, PEPE is neither overbought nor oversold, indicating a chance for an upside rally. Combining these metrics, it makes sense that PEPE is slightly above its mid-November price.…
Filed under: News - @ December 23, 2024 6:10 am