#PEPEUSDT ( PEPE*1000 ) - How PEPE Price Hitting New All-Time High Could Lead to Major Corrections
PEPE price marked a new all-time high over the past day but could now be looking at a fall.
The MVRV ratio shows that PEPE is in the danger zone, which historically has observed correction.
The Network Realized Profits further substantiates the bearish outlook, as profit-taking is likely.
PEPE’s price continued to please its holders, as the meme coin not only led the rallying altcoins but also marked a new all-time high in the last 24 hours.
However, this could trigger the altcoin observing a decline as investors look primed to sell.
PEPE Investors Close to Selling
Following the PEPE price rise, the meme coin looks prepared to see some major selling as the altcoin investors realize massive profits. According to the Network Realized Profit/Loss indicator, the overall gains have been inclining for the past month.
Realized profits are a sign that the investors are selling, and this could now intensify as the meme coin hits a new ATH. This seems to have saturated the bullishness and may lead to heavy selling.Secondly, the Market Value to Realized Value (MVRV) Ratio also hints at profit-taking. The MVRV ratio monitors investor profits and losses. With PEPE’s 30-day MVRV at 38%, indicating profit, selling may ensue.
Historically, the meme coin has undergone corrections at MVRV levels of 15% to 36%, marking it as a danger zone. PEPE is already above this level, which signifies stronger profit-taking potential.Should this happen, the altcoin could note a fall below key PEPE Price Prediction: Awaiting a Dip
PEPE price market the new ATH of $0.00001430 after rising by 51% in the last two days. At the time of writing, the altcoin is not exhibiting any signs of a decline, but considering the above indicators, it could occur soon.
The most likely outcome would be a fall to $0.00001251, which marks the 78.6% Fibonacci Retracement. Intense selling could extend this decline and PEPE could dip to the 61.8% Fib line at $0.00001146.
