🐸💥 Pepe Coin Price Rebounds: Is the Crash Over or a Dead Cat Bounce? 📉➡️📈

Pepe Coin has shown signs of recovery, surging 3.34% in the past 24 hours as investors swoop in to buy the dip. Here’s what’s happening in the world of the third-largest meme coin:

🔑 Key Highlights:

Pepe’s 24-hour trading volume hit $2.2 billion, with futures open interest climbing for the third straight day to $151 million, the highest since Dec 30. 📊💰
The Market Value to Realized Value (MVRV-Z score) has dropped to 1.28, signaling oversold conditions. The last time Pepe had this MVRV value was in November, leading to a rally to its all-time high of $0.00002830. 🚀💎

📉 Recent Price Action:

Pepe’s price fell below the crucial $0.00001713 support, a key level in the cup and handle pattern formed between May and November.
Despite this, the coin has stayed above the 100-day moving average and is trying to flip the 50-day MA, signaling mixed momentum. 🔄📈

📊 On-Chain Indicators:

Active, new, and zero balance addresses have dropped by over 20% in the last 7 days.
The active address ratio has fallen to 1.34%, its lowest in over a month—a potential precursor to price breakouts. 🛠️🐾

⚠️ Bearish Concerns:

The rebound could be a dead cat bounce or part of a bearish flag pattern, suggesting a risk of further downside after the Santa Claus rally. 🎅📉
A confirmed bullish breakout would require Pepe to rise above the psychological level of $0.000025. 🚦

📢 TL;DR: Pepe Coin is attempting a comeback, but caution is key! Bulls need to break key resistance levels to confirm a sustained rally. Until then, the risk of continued downside remains. 🐸💥

#PepeCoin #Crypto #MemeCoin #TechnicalAnalysis #PepeRebound 🌐

*⚠️ Disclaimer:*

This is for informational purposes only and not financial advice 💡. Crypto is risky 💥; do your own research 🔍 and consult a professional 💼 before investing. The author is not liable for any losses 🚫.