PEPE Price Analysis: Sideways in the Short Term, but Still Bullish in the Long Term!!!

(Zhuye Strategy)

The memecoin PEPE performed well after the market rebound on July 6, but then quickly fell back, according to a report by Bijie.com. At press time, the price of PEPE is $0.0000088, and analysts expect its price to be between $0.0000088 and $0.0000095 in the short term.

PEPE's exchange inflows and outflows are close, which means that investors are not very willing to hold the token in the short term.

PEPE's number of new addresses, active addresses, and zero balance addresses have all decreased, indicating that network activity is declining and demand for the token is weakening.

PEPE price has a false breakout on the daily chart, but it remains above the 200-day simple moving average (SMA). If bulls prevail, PEPE price could rise by 26% to $0.00001108. On the other hand, if bears gain the upper hand, the price could drop by 20% to $0.00000650.

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