Memecoin Fever Shrinks, Can PEPE Touch IDR 14 Thousand/$ 1?
According to the Crypto News report, the price of Pepe Coin PEPE3.94%->Current PEPE Price
IDR 0.37682823
3.94%
Market Cap
IDR 158.43 Trillion
Trading Volume
IDR 58.97 Trillion
Circulating Supply
IDR 420.69 Trillion
has dropped to $ 0.00000158, representing a 6% drop in 24 hours and a 27% drop in two weeks.
Despite this, PEPE is still up 550% in the past 30 days and over 2,700% since CoinGecko began tracking it on April 18, 2023. Furthermore, much of PEPE’s growth has been driven by a series of exchange listings, including Binance, Huobi, Gate.io, and OKEx.
And with more exchanges likely to list the PEPE token in the coming weeks, the meme token could see some major rallies this year.
According to a report by Crypto News, as of May 22, 2023, PEPE’s chart is in a good position, as it is signaling a bottom for the recent decline.
First, PEPE’s relative strength index (purple) has just started to rise again after dropping to 30 in recent days, indicating overselling.
Likewise, the meme token’s 30-day moving average (yellow) has fallen below its 200-day (blue), suggesting a bottom may be in the offing.
Despite PEPE’s recent losses, it is encouraging to note that its support levels (green) have started to rise again, something that also suggests that the meme token may be on the verge of recovering.
According to some reports, what is driving PEPE and its potential recovery is the exchange listing, which has helped maintain the momentum of the new meme token.