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Pepe's price is up 4% in the last 24 hours to trade at $0.00000143 as of 12:45 pm EST, but trading volume is down 11%.
The drop in trading volume is characteristic of weekends, when retail trading tends to take a backseat. Meanwhile, the number of PEPE holders continues to rise, up to 81 addresses today, as some investors anticipate further growth.
+81 new $PEPE headlines today.
Excellent $PEPE space today, I will try to host more often, 3 spaces in 2 months is not enough.$PEPE It just takes a little more time and energy to create a chain reaction of explosive growth. $PEPE It's very easy to predict because I've seen the same thing with… https://t.co/NtNV9naqW0 pic.twitter.com/je8A4rtoEW
—Plasma (@Plazma0x) December 16, 2023
A trader sees tough times for Pepe's price. @Cryptokaleo, looking at Pepe price in the 4-hour period, notice that the bullish trend of the frog-themed meme coin was broken again
He says that he would not enter a long position on Pepe price as the possibility of PEPE reaching its all-time high has been negated unless the token reclaims the $0.0000018 level.
For now, the above scenario is not valid. We won't be in for a long time until we see bullish momentum and a recovery to 0.0000018.
I wouldn't be surprised to see a return to base of this range closer to 0.000001. pic.twitter.com/LaOQewzY4y
– KALEO (@CryptoKaleo) December 12, 2023
For now, @Cryptokaleo anticipates a 30% drop to the psychological level of $0.000001.
Pepe Price Outlook as PEPE Holders Anticipate Further Growth
Pepe price is consolidating along an ascending trend line, as the frog-themed token recovers from the downtrend that began in July. As long as the price stays above this trend line, investors can expect further gains.
However, it faces resistance from the July 13 supply zone, which extends from $0.00000146 to $0.00000172. To confirm the continuation of the uptrend, the PEPE price must register a decisive candle close above the middle line of the order block at $0.00000158.
Further buying pressure above current levels could cause the PEPE price to turn this supply barrier into a bullish factor. This would set the tone for the price to target the next supplier congestion marked by equal highs at $0.00000191.
In a highly bullish case, the price could extend until Pepe price surpasses $0.00000200. In a highly bullish case, profits could be extrapolated to the price to test the $0.00000250 level. Such a move would constitute a 77% increase above current levels.
The Relative Strength Index (RSI) is deviating northwards, showing that momentum is increasing. Its position above the midline of 50, along with the Awesome Oscillators (AO) and the Moving Average Convergence and Divergence (MACD) indicator in positive territory accentuates the bullish outlook, showing that the bulls are leading the PEPE market.
Reverse case
On the other hand, if the supply barrier remains a resistance level, Pepe's price could face rejection, which could cause it to lose the support offered by the ascending trend line. A breakout and close below the psychological level of $0.00000100 would invalidate the bullish thesis.
In the severe case, the decline could extend until the price tests the $0.00000085 support level or, in the severe case, extrapolate to the $0.00000061 support floor.
Meanwhile, the eyes of the broader crypto market remain open to bitcoin (btc) and, with it, BTCMTX. It comes as January and 2024 more broadly promise multiple bullish developments for the king of cryptocurrencies. That's a key reason why BTCMTX is listed among analysts' top five cryptocurrencies to buy in December with 10x growth potential.
And why is it among the top cryptocurrency pre-sales to consider ahead of the upcoming bitcoin halving?.
Promising alternative to PEPE
BTCMTX is the token powering bitcoin Minetrix, a mining staking project that is taking over the meme coin space. The project has made btc ownership easy and feasible even for ordinary people, decentralizing and tokenizing the process.
#BitcoinMinetrix incorporates a tokenized cloud mining system, allowing regular users to participate in decentralized operations. $btc mining.
This platform mitigates third-party cloud mining risks and offers full operational autonomy. pic.twitter.com/4jekB8X6lr
—Bitcoinminetrix (@bitcoinminetrix) December 16, 2023
The project has simplified btc mining, and therefore bitcoin ownership, using a unique staking approach to mining. Holders of BTCMTX tokens can stake their holdings for credits and then redeem or burn them to gain mining hash power.
Simplifying $btc mining via #BitcoinMinetrix.
Transforming cloud mining with a focus on security and openness.
Guaranteeing ease like never before. #BTCMTX #BTCMining pic.twitter.com/39lv7rYffz
—Bitcoinminetrix (@bitcoinminetrix) December 14, 2023
The bitcoin Minetrix project is in the pre-sale stage, attracting a whopping $5.367 million in pre-sale sales so far out of a target of $6.079 million. At the current stage, investors can buy BTCMTX for only $0.0122, but the price will increase in about 13 hours.
Visit the bitcoin Minetrix website to pre-sell BTCMTX here.
Also read:
- Audited by Coinsult
- Secure and decentralized cloud mining
- Earn free bitcoin daily
- Native Token on Pre-Sale Now – BTCMTX
- Staking Rewards: Over 100% APY
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