Potential surge opportunity
If the daily closing price of Pepe Coin (PEPE) successfully exceeds the key level of $0.0000216, its price is highly likely to soar by 200%, reaching a high of $0.000060. Currently, although the market is experiencing a pullback after a significant rise, the overall market sentiment still leans towards bullish.
Exchange capital flow
Since November 13, according to AMBCrypto's in-depth analysis of Coinglass data, the spot inflow/outflow data of PEPE has shown an astonishing trend: the outflow amount from exchanges reached as high as $341 million.
Such a large-scale capital outflow phenomenon strongly indicates that tokens are continuously being transferred from exchanges to various wallets. In the world of cryptocurrency, such capital flow is often seen as an excellent buying opportunity with potential upward explosive power.
Whales and community factors
As a popular memecoin based on Ethereum (ETH), Pepe Coin continues to attract strong interest from whale investors and institutions even during a period of price consolidation. The bullish price action pattern formed within the daily timeframe is the key reason for the whales' substantial participation. Meanwhile, this phenomenon also demonstrates the community's firm confidence and high trust in whale investment behaviors.
Technical analysis perspective
From the technical analysis perspective of AMBCrypto, PEPE has successfully broken through the bullish flag and extreme price action pattern within the daily timeframe, showcasing strong bullish momentum.
As of the time of writing, PEPE's relative strength index (RSI) is 62. Given that it has not yet entered the overbought zone, this means that in the coming days, this memecoin still has ample room for upward movement.
Main liquidation level
Through AMBCrypto's detailed observation of Coinglass data, it can be found that traders are already holding a substantial amount of long positions. On the downside, the main liquidation level is at $0.0000199, corresponding to long positions amounting to $7.4 million.
On the upside, the main liquidation level is at $0.00002143, with short positions of $5.05 million. This shows that traders' leverage usage at these key points is already at a high level.
Comprehensive bullish on-chain indicators and technical analysis results clearly indicate that bullish forces have firmly taken control of this asset, highly likely to strongly propel Pepe Coin into a surge of upward momentum in the upcoming market.
As of the time of writing, the trading price of PEPE is close to $0.00002097, with a slight decline of 1.10% in the past 24 hours, and trading volume also decreased by 15%, which may suggest a cooling enthusiasm among traders at present.