🐸🚀🚀Number of PEPE Holders has reached its peak Time is running out Could the Big Bang be near?🐸🚀🚀

The total number of holders of #PEPE tokens has reached an all-time high of around 218,000

$PEPE Price

PEPE price is trending above the 50-day and 200-day simple moving averages (SMA), albeit too close to the former. Previously, the asset’s price broke out of an ascending triangle and reached an all-time high of around $0.00001725. Following this victory, bulls relaxed as bears took over the wheel, driving the price downward to the 0.5 Fibonacci retracement level.

The price barely touched this level (orange) before immediately bouncing back up, an indicator of strong bullish action in the markets. On a wider scale, the correction may be an expected textbook breakout and retest playing out for the ascending triangle. The 0.5 Fib retracement level coincides with the top of the ascending triangle perfectly, indicating that bulls may be waiting around this area to buy back in.

A bounce from this level may propel PEPE price to a new all-time high of around $0.00001981. Resistance may be encountered around $0.000014 and $0.000017 on the journey to this point. On the flip side, there is a robust support structure around $0.00001 that may hold up the price in case bears overpower the bulls.

PEPE Price Future Outlook

Pepe’s previous increase in price followed the new interest in the Ethereum ecosystem following the approval of the 19-4b ETF application forms. Since then, the hype surrounding the event has died down, and Ethereum (ETH) itself has gone into a consolidation zone.

However, for Pepe, investors may be gearing up for something massive, as according to Santiment, an on-chain analysis firm, the total holder count for PEPE (Red) is at an all-time high (218,000).

Meanwhile, Santiment also reports that the total supply of PEPE tokens increased from 420.78 trillion on March 13 to 422.55 trillion on June 9, an addition of 1.77 trillion tokens worth about $22.3 million at the current price.

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