[PEPE prices near critical levels, but other factors are key]
PEPE is currently trading at $0.000011, after the price came close to breaking below the psychological support level of $0.000010, sparking concern in the market. According to the Global Import and Export Money (GIOM) indicator, PEPE is in a key position that could cause the price to rise or reduce the number of profitable holders.
The Global Import and Export Money (GIOM) indicator shows that 18,730 addresses purchased 31.60 trillion PEPE at a maximum price of $0.000010, making this group of holders profitable at the current price. And 13,340 addresses accumulated 37.07 trillion tokens at a price of $0.0000013, and these holders suffered losses. Selling pressure will result when more addresses lose money, but the number of losing addresses is less than profitable addresses. If profitable addresses do not sell, the token price may remain above $0.000010. However, PEPE could fall if profit-taking increases.
PEPE’s price failure to rebound may be related to a major sale on June 15th. One trader sold 1.14 billion PEPE worth $1.27 million. Considering the current situation, it is important to check the timing of your entry. Price DAA divergence analyzes this potential. Price DAA divergence shows that PEPE’s network active addresses are increasing and is a buy signal.
The daily PEPE/USD chart shows that the market structure is close to forming a double bottom, a technical analysis pattern that indicates a trend reversal that usually halts a downward trend and leads to a significant rebound. PEPE price would likely need to drop to $0.0000096 to fulfill the forecast, but buying pressure would also be needed. Currently, the Relative Strength Index (RSI) is declining and below the neutral point of 50.00, indicating that momentum is bearish. Therefore, PEPE may drop to $0.0000096, but it won’t take long for the coin to rebound to $0.000014.
Traders need to monitor the volatility in the market. If Bitcoin (BTC) prices fall below June 17 levels, PEPE could drop to $0.0000079.
