Coinbase Listing Boosts PEPE by 75%, Profit Taking Hits 9-Month High
Pepe’s 75% Surge Driven by Coinbase Listing
The price of Pepe (PEPE) surged 75% within 24 hours following its Coinbase listing, reaching $0.000022. However, on-chain data suggests potential profit-taking could reverse gains.
Profit Realization by PEPE Holders
Before the listing, PEPE traded at $0.000013. Coinbase’s General Counsel Paul Grewal confirmed the listing, sparking the price increase. Robinhood also added PEPE, amplifying its rise. Trading volume hit $53.14 trillion, and the market cap soared to $1.16 billion, but selling pressure could drive prices down.
RSI Signals Short-Term Decline
The Relative Strength Index (RSI) shows PEPE is overbought, suggesting a potential price correction. RSI readings above 70 indicate overbought conditions, while a drop below 30 signals potential rallies. PEPE’s current RSI indicates short-term bearishness.
Potential Price Correction
After reaching $0.000023, PEPE may face resistance and decline to $0.000019, aligning with the 23.6% Fibonacci retracement level. A steeper correction could push prices to $0.000015, though sustained buying might drive prices to $0.000026.
Market dynamics and investor activity will shape PEPE’s trajectory following its significant gains.
❤️LIKE 🫂FOLLOW 🗳REQUOTE OR RESHARE
⌨️ COMMENT
🫂Remember: A lot of Hardwork goes into for providing you Best Investment Articles.Your Generous Tips would Empower our Mission and help us to work even Harder for you to give Best Investment Advice.
