PEPE price is hovering below $0.00001000 and trading at $0.00000881. For investors, this anticipation of bullish momentum could be beneficial as their profits remain in limbo due to meme coin consolidation.
The Global Inflow/Outflow Indicator (GIOM) shows that approximately 70 trillion PEPE worth over $617 million was purchased between $0.00000800 and $0.00000990. This proposal will only become profitable once the price of PEPE reaches $0.00001000 as a support level.
Despite the potential profit, there is currently no demand, as evidenced by the relative strength index (RSI). Bullish momentum on the RSI appears weak, suggesting that buying interest is not strong enough to support the upward price movement.
When RSI momentum is weak, the asset may find it difficult to continue rising and may face resistance if the bullish trend continues. In addition, selling pressure is currently prevailing in the market: sellers are suppressing buyers, which leads to lower prices.
This selling pressure negates the potential gains from bullish momentum and creates conditions where further price declines are more likely. The predominance of sellers in the market is an important factor that weakens the RSI and indicates an overall bearish outlook for PEPE.
