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🐸🚀🚀Pepe Coin Price Analysis: Will $PEPE Reach $0.00001 Next Week?
#PEPE Coin Price Analysis: Amid the ongoing market recovery, PepperCorn has experienced a remarkable recovery this week, rising from $0.00000592 to the current trading price of $0.00000842. This 42% rise in the daily chart revealed that an inverse head and shoulders pattern has formed.
Intra-Chain Indicators Are Aligned for the Recovery of Pepe Coin
Frog-themed Memecoin PEPE entered the current recovery trend in mid-April, with its price recovering from a low of $ 0.00000393. The bullish trend has increased the asset by 128% in one month to a high of $0.00000893,
In the midst of this recovery, the PEPE coin price predicted two high-low formations, indicating that buyers are actively accumulating this asset at the bottoms. Moreover, at a recent on-chain event, the multisig wallet, identified by the address 0x323, made significant moves with the cryptocurrency PEPE, as reported by the on-chain data tracker Spot On Chain.
This wallet has withdrawn 915.85 billion PEPE tokens worth about $7.75 million from Binance. This transaction adds to the wallet's recent activities over the past 28 hours, during which it has withdrawn a total of 1.238 trillion PEPE tokens (worth about $10.4 million) for its first trade involving this cryptocurrency.
On May 4, coin buyers made a definite break from the $ 0.000008 collar resistance of the inverted head and shoulder model. If the chart pattern is correct, the PEPE price should surpass the last oscillation resistance of Tuesday at $0.0000108 to hit a potential target of $0.000012.
Technical Indicator
BB Indicator: The rise in the upper limit of the Bollinger band indicator highlights an active buying Deceleration among market participants.
Average Directional Index: A 16.6% rise in the ADX slope indicates that the previous correction helped buyers regain their strength for a higher rally.
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