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Pepe Price Analysis: As PEPE Meme Coin Tumbles Could This Other Token Outperform In Q2?

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PEPE Price Analysis: Discover the latest updates on Pepecoin price decline and whether it's time to sell. Get insights from onchain data here

In the latest PEPE Price Analysis, discover the latest updates on Pepecoin price decline and whether it’s time to sell.

The meme coin PEPE faced a significant price decline on Saturday, leading to a flurry of speculation among investors and analysts.

PEPE’s daily price dropped by over -6% to $0.000009426. Should you be the next to sell your bags? This article will tell you.

According to CoinMarketCap and IntoTheBlock data, over 92% of PEPE investors were in profit, potentially prompting them to sell their holdings.

PEPE is currently showing bearish signals with potential support of around 3.92B.

Bearish Sentiment Over PEPE Price Persists in the Market

Launched in April 2023, PEPE quickly became a sensation. Major exchanges such as Binance, Bybit, OKX, Coinbase, and Bitget supported Pepecoin trading.

Despite showing strong performance recently, with considerable gains over the past month and quarter. Pepe’s decrease in volume compared to the 30-day average suggests that the momentum might be slowing down, potentially indicating a period of consolidation.

PEPE still maintains a market capitalization of over $3.9 billion, ranking as the 26th largest cryptocurrency.

PEPE Price Analysis: Discover the latest updates on Pepecoin price decline and whether it's time to sell. Get insights from onchain data here

(PEPEUSDT)

The price action for Pepecoin appears choppy without forming a distinct bullish or bearish pattern. Meanwhile, the current trend is bearish, as indicated by the RSI below 50 and the price below the 200-day SMA.

If you’re looking for potential reveals, key support levels to watch are around 3.92B and 3.90 B.

Both the 20-day and 200-day SMAs are close to each other, indicating no significant divergence that might signal a strong trend change.

DISCOVER: The Top Upcoming Meme Coin Launches in May 2024

Here are a few more things to note about PEPE price analysis if you’re holding:

  • Whales: The supply held by top addresses saw a slight drop after a rise on May 14th, pointing to possible sales by whales
  • Selling Pressure: Increased selling pressure from both small investors and whales has compounded the bearish trend.
  • Comparative Analysis: Dog-themed cryptocurrency Shiba Inu (SHIB) experienced a 3,015% surge in large holder NetFlow, showcasing differing market activities among meme coins.

Forget Pepecoin! This Coin Could Offer Better Returns in 2024

While the meme coin market is sorting itself out, the new learn-to-earn sector in cryptocurrency is set to explode.

The token at the forefront of this revolution is 99Bitcoins’ 99BTC token, which is about to pass $1.5m at presale – as it positions to supercharge your portfolios by capturing a major slice of freshly onboarded crypto capital.

Features like pay-to-learn and a high-rewards staking program are expected to propel the demand for 99BTC, which is also a double winner with Bitcoin beta-play potential.

Predictions are saying $0.0054 by the end of 2024, which is a 50X increase from these levels.

The blend of education and reward places the 99Bitcoins token at the forefront of educational cryptocurrencies.

Buy 99BTC Here

RELATED: 99BTC Presale Launches – Here’s Why Big Money Investors Are All In On This Learn-To-Earn Token

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.

Isaiah McCall is an ultramarathon runner and journalist for 99Bitcoins.

View all Posts by Isaiah Mccall

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