PEPE is facing difficulty breaking through a major resistance level. Currently, around 56.48 trillion PEPE are close to becoming profitable, which could create selling pressure and potentially push the price down.

30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]

The price of PEPE is struggling to move above its key resistance of $0.00001369, and is currently trading at $0.00001205. This ongoing struggle raises concerns that any potential price increase might be quickly followed by selling.

PEPE Price Struggles with Key Resistance and Potential Selling Pressure

PEPE is testing a crucial resistance level, which, if surpassed, could lead to significant gains for investors. According to the Global In/Out of the Money (GIOM) indicator, about 56.48 trillion PEPE are nearing profitability, having been purchased between $0.00001100 and $0.00001300. If the price reaches the upper boundary of its current consolidation zone, it could deliver around $628 million in gains to PEPE holders.

However, this potential for profit does not guarantee a bullish trend. If the broader market remains bearish, investors may choose to sell their assets to lock in gains and mitigate losses. This sentiment is supported by the Market Value to Realized Value (MVRV) ratio, which assesses the profit and loss of investors.

30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]

Currently, PEPE’s 30-day MVRV data stands at 15%, signaling profitability and possible selling pressure. Historically, PEPE has experienced corrections when the MVRV falls between 18% and 48%, often considered the danger zone. Thus, rising profits might push PEPE into this danger zone, potentially leading to a downward price move.

PEPE Price to Consolidate Amid Resistance

Currently trading at $0.00001205, PEPE is expected to maintain its consolidation phase until broader market conditions become more bullish. The potential for profit-taking is a key factor, as investors may sell off their holdings before PEPE can breach the $0.00001369 resistance level.

30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]

As a result, the price is likely to remain below this resistance and may not reclaim any previous uptrend support. Should selling pressures exceed expectations, a drop below $0.00001146 becomes more probable. This decline could push PEPE’s price to around $0.00001007, invalidating the current neutral outlook and potentially leading to increased losses.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]

#PEPE #Pepecoin #Memecoins #Bitcoin #BitcoinConference2024 $PEPE $BONK $BTC