PEPE’s price is showing strong momentum, with indicators suggesting the trend is strengthening. The ADX reflects a solid uptrend, while the 7-day MVRV ratio suggests there is potential for further growth before any major profit-taking occurs.
If the momentum continues and forms a golden cross, PEPE may test higher resistance levels. However, if the buying pressure weakens, a pullback is still possible.
The current trend of PEPE is strong
PEPE’s ADX has climbed to 32, a significant increase from below 20 a few days ago, indicating that the strength of its current trend is increasing. ADX (Average Trend Index) measures the strength of a trend but does not indicate its direction.
Typically, values above 25 indicate a strong trend, while values below 20 indicate a weak market or no clear trend.
With the ADX now reaching 32, PEPE appears to be forming a strong uptrend. This level suggests that there is a lot of momentum behind the current price movement. A rising ADX combined with rising prices generally supports the argument for a continued uptrend.
If this trend continues, PEPE could see further price gains as buying pressure remains steady.
The PEPE MVRV ratio shows an important threshold
PEPE's seven-day MVRV ratio has surged to 4.7%, which is a significant increase from -10% two days ago, indicating that recent buyers are now reaping the benefits. The 7-day MVRV (Market to Realized Value) ratio measures the average profit or loss for holders of the asset over the past week.
When this ratio is positive, it indicates that recent buyers have taken profits, which can sometimes lead to selling pressure as investors take profits. Conversely, a negative ratio indicates that buyers are at a loss, which can reduce selling momentum.
Recently, PEPE's price has corrected as the 7-day MVRV ratio approaches levels around 9%, as this level usually triggers profit-taking activity.
Given that the current MVRV ratio is still below this threshold, there is room for prices to rise further before significant selling pressure emerges.
PEPE Price Prediction: Can it Keep Up the Good Momentum?
PEPE's EMA lines are currently showing a bearish pattern, with the short-term EMA below the long-term EMA, indicating that there has been recent downward pressure. However, the recent surge in PEPE prices has caused the gap between these EMAs to narrow, suggesting that momentum may be shifting. If this trend continues, a golden cross may soon occur, where the short-term EMA crosses above the long-term EMA, which is a bullish sign that usually marks the start of a stronger uptrend.
If the uptrend of PEPE remains intact, the price may move towards the resistance level around $0.00001082. On the contrary, if the current momentum weakens and the downtrend resumes, PEPE may revisit the support level around $0.0000088 and may even drop to $0.0000077.
PEPE wants to rise to $1, is this possible?
The current circulation of PEPE is as high as 420.69 trillion! Because of this terrifying number, it is very difficult for it to increase in price. If it can really rise to $1, the market value is 420.69 trillion.
Trillion dollars! Can you imagine? At its peak, the market value of Bitcoin (BTC) was only about 1.2 trillion dollars.
Let's talk about the coin burning mechanism. This is a way to increase the price of the coin. Coin burning means reducing the number of coins. If PEPE can burn 99% of the coins, there will only be 4.2 trillion coins circulating in the market. In this way, if PEPE rises to $1, the market value will be 4.2 trillion.
Although this number is still large, with fewer coins, PEPE becomes more scarce, and the price is likely to soar.
