PEPE rose 30 percent from the bottom: Is the risk over?

PEPE, a popular memecoin on the #Ethereum blockchain, rose nearly 30 percent from the bottom it created on December 20.

PEPE fell 33 percent between December 18 and December 20. Following the decline, $PEPE fell to $ 0.00001441, creating a potential bottom. The popular memecoin bounced off $ 0.00001441 as the #Bitcoin ($BTC ) price began to recover.

AMBCrypto analyzed PEPE's price movements in the last 24 hours. The analysis emphasized that the potential rise could continue.

PEPE made a major price correction last week. According to AMBCrypto's analysis, PEPE, which showed signs of recovery after the correction, turned positive in metrics.

A 39 percent increase was observed in PEPE's trading volume. The analysis suggested that the increase in trading volume was a bullish signal.

While exits from central exchanges increased, the volume reaching $5 billion attracted attention. According to Santiment's data, buying pressure on $PEPE has started to increase recently.

AMBCrypto made the following statements; "As buying pressure increases, confidence in a token also increases, which leads to price increases."

In addition to the buying pressure, the fear and greed index also gave an upward signal. According to the analysis, the selling pressure has ended in PEPE, which reached the "extreme fear" phase with a value of 24 percent.

Despite the positive data, whales were observed to sell their PEPE. #AMBCrypto warned that whales could create selling pressure.

The analysis stated that the Relative Strength Index (RSI) increased, reflecting the buying appetite.