PEPE has caught the crypto market’s eye by experiencing a remarkable 500% price increase. The coin’s trading volume has surged by 64.56%, indicating a rise in trading activity. While investors rush to assess whether to buy, sell, or hold on to their Pepe Coin investments, let’s further explore signals that can assist in making informed decisions.

Current Market Price Performance of Pepe

The present Pepe Coin price stands at $0.000008444, reflecting an increase of 8.58% within the last 24 hours. Currently, it holds the 40th position in the overall cryptocurrency market, with a market capitalization of $3.55 billion as reported by CoinMarketCap. The total number of PEPE tokens in circulation is 420.69 trillion.

Over the last day, the cryptocurrency’s trading volume surged by 66.05% to reach $1.14. This indicates that there is increased trading activity surrounding Pepe Coin.

PEPE has experienced a positive trend over the past week, with a 28.8% increase. Although it is currently trading 21.66% below its all-time high of $0.00001074 on Mar 14, 2024.

Pepe has recently demonstrated considerable potential, making it a prime time to delve in and consider investing.

In the past month, PEPE’s price has surged by 548%, indicating its potential to establish itself as a stable investment if growth persists.

Pepe Price Forecast

Analysts have noticed a significant increase in Pepe’s value, as prices have surpassed an key resistance level, indicating potential long-term growth. However, caution is necessary for investors due to the inherent unpredictability of the market. Pepe’s present path has initiated conversations among industry specialists, indicating that this might signal the start of a positive trend that could result in substantial profits

The Fear and Greed Index of PEPE Coin stands at 75, indicating a greedy sentiment among investors. This level suggests that the market might be overheated with optimism, potentially signaling a period of consolidation or even a correction.

The daily chart technical analysis demonstrate that the market is bullish, as the current price of Pepe Coin is above its 50-day Simple Moving Average (SMA), indicating a positive trend. The token’s price also remains above its 200-day  SMA, signifying a long-term bullish trajectory.

MACD, an indicator that tracks momentum by following trends, is indicating a buy signal. This means that the upward momentum in Pepe’s price could persist, further confirming the positive outlook indicated by the EMA indicators.

Examining the RSI (14), we see it stands at 63.54, being placed in the neutral zone. This implies that the current PEPE price momentum does not favor buying or selling, but it shows a balanced market sentiment. 

Should the buying pressure of Pepe increase, potentially reversing dropping in price or pose, it will find support at $0.00000623 and $0.00000464. In case the bears become stronger and the prices decrease, the coin might find its strongest level at $0.00000187

On the upside,  should the selling pressure increase, pushing the price, PEPE could find resistance at $0.00000899 and $0.00001018. Should the selling interest intensify further, the token could find its strongest resistance to further price increases at $0.00001295.

This marks the initial level of resistance, indicating a price point at which selling activity could surge, possibly causing a pause or reversal in the upward movement of Pepe Coin’s price.

Buy, Sell or Hodl?

Given that both short-term and long-term moving averages indicate bullish signals and strong buy sentiment, it may be a good idea for investors to consider making a purchase. If they already own Pepe Coin, they also take into account the strategy of hodling (keeping their positions). This is because the RSI is not giving a clear indication to either purchase or sell, as it remains neutral. Keeping the investment gives investors the opportunity to wait for more definitive signals or updates in the market prior to making any choices.

Nevertheless, it is crucial to proceed with caution and take into account additional elements like market sentiment, news updates, and risk tolerance prior to finalizing any trading choices. Even though technical indicators offer useful insights, they are not completely reliable and should be combined with other analysis methods.

The post Pepe Price Soared 500%; Buy, Sell or Hodl? appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am