CandleFocus

PEPE Loses One Zero as Sell-Off Grows, but There's Twist

Author: Content Editor
The price of PEPE has experienced a negative push, dropping by 6.59% in the past 24 hours and over 15% in the past week. However, other metrics such as trading volume and large transactions are on the rise, suggesting that this sell-off may be a short-term reaction from holders. The trading volume has increased by 48% to $773.18 million, indicating heightened activity. Additionally, the large transaction data shows that 51.23% of transactions worth $40.22 million are from whales. These positive metrics may help PEPE rebound, especially as Open Interest remains relatively high. The price drop could also be seen as positive, as it allows the meme coin to shed excess gains and establish a price floor around $0.0000086. The Relative Strength Index (RSI) is slightly below the neutral zone, suggesting that a reversal may occur once bears are satisfied with the dumping. Ultimately, the goal for PEPE is to recover its price losses and aim for a higher price in the midterm.

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