[PEPE price consolidates within range]
Frog-themed meme coin Pepe has recently been consolidating within a price range of $0.000011 to $0.000012. PEPE has been trading within a sideways channel since July 15, showing a balance of buying and selling pressure.
On-chain data shows that demand for PEPE has dropped significantly, with the number of daily active addresses falling by 41% and the number of new addresses falling by 43% in the past week. Large PEPE holders ("whales") have also reduced their positions, with transactions over $100,000 down 51% over the past seven days, reflecting caution among major investors.
Currently, PEPE faces resistance at $0.000012 with support at $0.000011. The SAR (Stop Reverse) indicator is showing below the PEPE price, hinting at a possible uptrend. If $0.000012 is broken, the next target could be $0.000013; if support fails to hold, a drop to $0.0000098 is possible.
Recommended investors:
- Monitor the $0.000012 resistance level for breakout opportunities.
- Watch out for potential bullish trends indicated by the SAR indicator.
- Note the significant decrease in large transactions, indicating reduced whale activity.
- Carefully evaluate the support level at $0.000011 to anticipate a possible decline.
Overall, PEPE's movements within the sideways channel reflect the market's delicate balance. Investors should pay close attention to key resistance and support levels to effectively predict future trends.
