After a recent slump, the popular memecoin PEPE is attempting a recovery.
The recovery is not likely to succeed, though, according to a number of negative signals.
PEPE recovery remains uncertain.
The price of PEPE has been steadily rising, which is encouraging, but it will require more bullish indicators to keep the momentum going. I couldn't be more wrong.
The RSI is the first of these considerations. The indicator's continued below-neutral reading of 50 suggests that the current trend may be unstable.
Also, PEPE has to worry that investors will take their cut. Approximately 26% of holders are now making money, according to the analysis of active addresses. When growth exceeds 25%, it usually means that sales are about to begin.
