Pepe fell about 2% in the last 24-hour period as part of a wider 5% sale that started in the middle of a crypto market mitigation and a wave of high volume sales.
The price slipped from $ 0.000014268 to $ 0.000013568 during the session, with 349 billion tokens read during the move, according to Coindesk Research’s technical analysis data model.
The meme -inspired cryptocurrency went short together to a session high of $ 0.000014713, supported by 11.7 trillion tokens traded in a single wave. But the trial fizzled, meets stiff resistance and triggered a quick turn. The sharp step led to more than $ 4 million in liquidation per Coinglass data.
This session high now stands as a fixed technical ceiling, which strengthens the trader in the short term upwards. Relative postal volume on social media has risen more than 23% compared to its 24-hour average, according to data from Thetien, which suggests growing interest.
Support came in nearly $ 0.000013618, where buyers showed interest under previous dips. While Token Map moved below this level, it has since gone to surpass it.
Meanwhile, Nansen shows that even when the 100 best addresses holding Pepe at Ethereum have increased their inventory by 0.11%, the Exchange draw books added 0.24% over the past 24 hours, showing a growing supply on the market.
Despite the fall, Pepe is slightly better than the wider Memecoin space. Coindesk Memecoin Index (CDMEME) experienced a 2.4% decrease in the last 24 hours compared to PEPE’s nearly 2% fall. Over the past month, Pepe has risen nearly 55% compared to CDME’s increase of 41.7%.
The seed-theme token has been better than after forming a golden cross pattern earlier this month. Crypto analyst Lark Davis on social media marked a potential breakout goal for $ 0.0000155.
Overview of Technical Analysis
- Trade volume spiked at 11.72 trillion tokens during a breakout trial, signaling widespread market participation.
- Strong rejection of $ 0.000014713 now acts as a critical ceiling for further upside.
- Consistent buyer activity formed a key support near $ 0.000013618
- A sharp deterioration began with 230.19 billion tokens sold for a concentrated period.
- Massive offloading occurred in successive waves of 237.67 billion, 329.19 billion and finally 349.11 billion tokens. The activity dropped to almost zero thereafter, signaling the trader fatigue and lack of conviction for improvement.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
