PEPE Price Drops 64% Amid Market Fluctuations and Bears
The meme coin market cap has decreased from $113 billion to $74.65 billion in the past 30 days, with PEPE experiencing an 18.39% drop over the last week. Currently priced around $0.00001034, PEPE's market cap is $4.34 billion.
PEPE Price Analysis
- PEPE's price has declined 64% from $0.0000288 to $0.00001034 in two months.
- Recent trends show the price testing local support levels, indicating potential reversal signs.
- Daily RSI shows bullish divergence from oversold levels.
- Stochastic RSI indicates a possible bullish crossover.
Improvement in Funding Rates
- PEPE funding rate increased from -0.0195% to 0.0085%.
- Open interest rose by 6.84% to $279.28 million.
- Long-to-short ratio improved to 0.97, balancing bullish and bearish positions.
- Liquidations totaled $2.52 million, with short-sellers facing losses of $1.10 million.
On-Chain Data Insights
- 28.26 trillion PEPE exist in the at-the-money zone between $0.000010 and $0.000011.
- Significant resistance is found between $0.000011 and $0.000014, holding 37 trillion supply.
- Support between $0.000009 and $0.000010 has only 12.69 trillion PEPE.
- A decline below $0.000010 could lead to prices dropping to around $0.000006.
- Potential price targets are set at $0.00001136 and near $0.000015.