Coinspeaker
30 January 2025
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PEPE Market Cap Reaches $5.5 Billion Amid Recovery Rally

Bitcoin is currently near $105,000 while the meme coin market cap has reached $93.60 billion. PEPE leads the segment with a 2.78% increase in the past 24 hours, trading at $0.000013 and nearing a $5.5 billion market cap.

PEPE Price Analysis

  • PEPE has shown a recovery from $0.00001143 with two bullish candles.
  • The price action indicates a potential reversal before surpassing the 50% Fibonacci level at $0.00001448.
  • A failure to maintain momentum could lead to a drop to $0.000007913.
  • If the upward trend continues, it may reach $0.00002652 after overcoming local resistance.

Token Movements

  • The PEPE team transferred 170 billion tokens ($2.17 million) to a new wallet.
  • 6 billion PEPE tokens worth $76.65K were sent to Binance from this wallet recently.
  • This raises concerns about potential selling pressure on PEPE.

On-Chain Support Levels

  • Strong support identified between $0.000011 and $0.000013.
  • 30.49 trillion PEPE tokens are held across 32.71K addresses in this range, indicating a significant bounce-back potential.
  • Support near $0.000014 and $0.000015 is weaker with only 17.95 trillion tokens.