The 18.2% decline in the value of Pepe coin in the last three days has brought the price close to the critical support level of $0.000009022. What could be the reasons for this move just before this important support level and what steps can be taken to prevent the price from falling further?
This decline occurred following a period of market consolidation that ended on July 30. Recent price movements show a marked change compared to previous sideways movements and indicate a potential breakout. Stopping this decline in the coming days is of critical importance for PEPE's future price movements.
Examining Investor Behavior: Entries, Exits, and Price Pressure
Current data from Coinglass reveals significant fluctuations in trading charts. In particular, the high amount of entry and exit activities attracts attention. A significant increase in outflows is observed, showing a strong correlation with the price decline. The increased tendency of investors to sell increases the possibility of the price falling further. This market behavior is a critical factor in understanding PEPE's overall trend and potential future movements.
Information from IntoTheBlock shows that 72.85% of PEPE addresses are in profit; This is largely due to low entry prices. However, a significant portion of the population, 23.37%, is at a loss. It is thought that this large group of investors could cause a selling pressure that could increase the downward momentum of the meme coin. This difference between profit and loss situations is considered an important indicator in predicting market reactions and price movements.$PEPE
As a result, Pepe coin's current price movements have brought it to a critical level. Staying above the $0.000009022 level will be vital for a possible price retracement. However, sustained selling pressure triggered by investor fear could lead to the price falling further. Market participants should carefully monitor these dynamics to effectively manage the current volatility.
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