SNEAK PEEK
- The Pepe coin is trading in a negative zone after an intense sell-off.
- Currently, the token is trading at $0.000001563, down by 8.48% for the day.
- The Cryptocurrency is facing strong rejection at the $0.000001736 level.
In recent news, the SmartMoney investor successfully made a remarkable profit of 1,219 ETH, equivalent to a staggering $2.2 million, through strategic trading involving PEPE tokens. Just eight hours ago, the investor decided to seize the opportunity and sell all their PEPE holdings at a break-even point.
The transaction involved selling a substantial amount of 1.33 trillion PEPE tokens, which were exchanged for 1,162 ETH, valued at approximately $2.115 million. The selling price for the PEPE tokens was set at $0.000001595 per token. These details were gathered from reliable sources, confirming the SmartMoney investor’s impressive feat.
The latest Pepe price analysis reveals that the token is trading in a bearish trend as the bears maintain their dominance over it. The selling pressure is likely to persist and could be critical for the token in the near term. At press time, the token is currently trading at $0.00000157 and has been bearish for the last few days.
The Pepe token opened the day’s trading session on a negative note as it jumped down to an intraday low of $0.000001535, down 8.48 percent. Since then, the bears have continued to dominate and have kept a strong grip on the token’s price, causing it to stay on a bearish slide. The previous day’s high of $0.000001736 has been a major hurdle for the token, as it is facing strong rejection at this price level.
The market capitalization for the token currently stands at $615 million, which is down from the previous day’s by almost 7.98 percent. The 24-hour trading volume is also down by 43.01 percent and currently stands at $224 million, indicating that few traders are trading either way.
The Relative Strength Index (RSI) is close to the oversold region at $45.52, which indicates that the token is likely to be bearish in the near term. The average directional index indicator also suggests that the bears are in control of the token’s price, as the reading is below 20 at 16.42 at press time; this indicates that the bears have an upper hand in the market.
The volatility is low, and the Bollinger bands are in the tightening phase, which indicates that the token is likely to remain in a tight range for the next few days. The upper Bollinger band is currently at $0.000001749, and the lower Bollinger band is at the support level of $0.000001438, which may act as a strong resistance and support level in the near term.
Overall, the Pepe price analysis reveals that the token is facing strong bearish pressure and is likely to remain in a negative zone for the next few days. The smart money investor’s success story should be an example to new traders, as it proves that trading cryptocurrencies can be profitable if done strategically.
Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.
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- Source: https://investorbites.com/pepe-price-analysis-22-05/
