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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.
Authors credited by the source: Vishal Dixit
Published by Holder based on an external source.
