Here’s What’s Standing Between PEPE Coin and a New All-Time High
The price of the popular meme coin PEPE is struggling to secure a crucial support level that could spark a rally to an all-time high of $0.00001725. However, the coin is facing significant resistance and a threat of profit-taking, which could hamper its upward momentum.
The meme coin is currently hovering near critical levels, with a breakout or continued struggle below the resistance points possible.
The meme coin is facing a bearish pullback due to profit-taking
PEPE Coin’s market value to real value (MVRV) ratio currently at 33% is in the danger zone. The area between 13% and 47% usually indicates a high risk of a correction. This is because at these levels, a large number of investors are in profit mode, which could lead to widespread selling. When profits become large, investors often tend to lock in their gains, which puts pressure on the price.
PEPE bulls should keep this potential selling pressure in mind, as corrections become more likely when the MVRV ratio hits these levels. If profit-taking accelerates, it could reinforce the resistance, making it harder for the meme coin to break through.
