Based on the provided chart, here's an analysis of the dependencies of Pepe coin (PEPE/USDT) on BTC (BTC/USDT) and ETH (ETH/USDT):
1. **Pepe Coin (PEPE/USDT):**
- Current price: 0.00001092 USDT
- Recent trend: Downward, with a 4.88% decline.
2. **ETH (ETH/USDT):**
- Current price: 3416.79 USDT
- Recent trend: Downward, with a 2.53% decline.
3. **BTC (BTC/USDT):**
- Current price: 63,718.90 USDT
- Recent trend: Slightly downward, with a 0.89% decline.
### Observations:
1. **General Market Trend:**
- All three assets (PEPE, ETH, BTC) are showing a downward trend. This suggests a possible correlation where PEPE's price movement might be influenced by the overall market sentiment, particularly the performance of major cryptocurrencies like BTC and ETH.
2. **Correlation Analysis:**
- **ETH/USDT**: The decline in ETH appears steeper compared to BTC. PEPE's price movement might be more closely tied to ETH given its sharper decline, similar to PEPE's performance.
- **BTC/USDT**: BTC shows a less severe decline, indicating that BTC might be more stable compared to PEPE and ETH in this particular timeframe.
3. **Indicators:**
- **MACD**: The MACD for PEPE shows a negative value, indicating bearish momentum. ETH and BTC also have negative MACD values, further supporting a bearish market sentiment.
- **RSI**: The RSI for PEPE is in the lower range (35.87), indicating it is approaching an oversold condition. ETH and BTC also show low RSI values, indicating bearish pressure across the market.
### Conclusion:
Pepe coin's price movement appears to be influenced by the broader market trends, particularly the performance of ETH and BTC. The correlation suggests that when major cryptocurrencies like ETH and BTC experience a downturn, PEPE is likely to follow a similar trend, albeit with potentially higher volatility.
If you have specific questions or need a deeper statistical correlation analysis between these assets, I can assist with further data analysis.