Popularized in the middle of last year, PEPE Coin has more than taken its share from this year’s BTC rally. Meme coins are a direction for investors new to crypto to make massive gains in a short time. At least, they buy with this assumption, and sometimes, if they wait inside long enough, their wallets can shrink by more than 50%.
PEPE Coin Commentary
Since the end of February, the PEPE Coin price has increased by nearly 63% and reached its all-time high level. PEPE Coin bulls have pushed the ATH level to $0.00001084 and are currently affected by the fluctuations in the BTC price.
At the time of writing, PEPE Coin is finding buyers at $0.00000793. When we examine the investor cost data, we see that tokens worth approximately $110 million were purchased near this ATH region. Investors who bought their supplies in this range are holding peak-cost tokens at 15,300 addresses.
So, as long as the PEPE Coin price stays in the current range, it seems likely that this group of investors, who reached the ATH level so recently, will avoid selling for at least a while. This group represents 8.3% of PEPE Coin investors, and the fact that the BTC price is maintaining $65,000 is significant.
PEPE Coin Predictions
The Pepe price is currently just below the 50-day Exponential Moving Average and has lost the support level of $0.00000826. To realize an optimistic scenario, we should see closures above this support. If closures continue below the support region, it could trigger rapid sales by those who bought near the ATH region.
This ATH-cost group, representing short-term investors, could easily become pessimistic compared to medium and long-term investors if they start to fear deeper price drops.
In a bearish scenario, the target is $0.00000630. And below that, the movement could continue to the bottom where the rise started at the end of February. This could mean the price drops to $0.0000001, adding a zero to the front, which signifies the end of the halving period rally. We might see this breakdown happen before the week is out.
