Pepe Coin Faces Setback as Whale Holders Withdraw
Pepe coin’s price has dropped by 10% in the past 24 hours, signaling a setback for the cryptocurrency. This decline is accompanied by a decrease in “whale” holders, as evidenced by recent large withdrawals. On Binance, a significant withdrawal of 2 trillion $PEPE tokens ($3 million) occurred on July 23, following previous substantial withdrawals on June 27 and July 5.
Key Points:
- A whale withdrew 2T $PEPE ($3M) from Binance on July 23.
- Previous substantial withdrawals of 3.94T $PEPE ($6.46M) occurred on June 27 and July 5.
- The decline in interest and bearish sentiment surrounding $PEPE raises questions about its potential for a comeback.
- Investors may consider exploring alternative coins in light of the current situation.
PEPE Breaks Below Support Level, Bearish Trend Continues
PEPE’s price decline from $0.000001872 stabilized at the support level of $0.0000008246. However, a brief rebound faced resistance, forming a double-top pattern and causing the price to lower further. The breach below the support level resulted in a 10% drop in the last 24 hours. Traders are now waiting for a retest of the support level to determine their buy entry point.
Key Points:
- The breach below the support level led to a 10% drop in the past 24 hours.
- Traders are awaiting a retest of the support level to determine their buy entry point.
- Monitoring the support level break during the retest is crucial for confirming the bearish move.
- If the bearish trend continues, the price may revisit its former support level at $0.0000008246.
Pepe Coin Indicators Suggest Bearish Momentum
Pepe Coin’s price indicators and lack of positive catalysts indicate a possible market decline. The Relative Strength Index (RSI) at 50 suggests a neutral position, but the flat movement indicates a slight bearish momentum. The Awesome Oscillator (AO) is in negative territory, confirming a dominant bearish presence in the market. Additionally, the price is below the 50-day and 21-day moving averages, further supporting the bearish trend.
Key Points:
- The RSI suggests a neutral position, but the flat movement indicates a slight bearish momentum.
- The AO is in negative territory, indicating a dominant bearish presence in the market.
- The price is below the 50-day and 21-day moving averages, signaling a bearish trend.
- The moving average crossover supports the downward trajectory toward the previous support level.
Evil Pepe Coin Rising as Pepe Coin Declines
While Pepe Coin faces a downward spiral, Evil Pepe Coin is gaining traction in the digital currency realm. Evil Pepe Coin has attracted crypto whales to its presale campaign and aims to surpass its predecessor, $PEPE, in terms of hype and gains. With 90% of the total token supply reserved for presale investors and a locked liquidity pool, Evil Pepe Coin is generating excitement in the meme coin space.
Key Points:
- Evil Pepe Coin aims to surpass $PEPE in terms of hype and gains.
- Presale investors have reserved 90% of the total token supply.
- 10% of the token supply will be allocated to DEX liquidity.
- The liquidity pool will be locked for one month after the coin’s exchange debut.
Hot Take: Diversify Your Crypto Portfolio with Alternative Coins
With Pepe Coin facing setbacks and a decline in interest, exploring alternative coins could be a wise move for crypto investors. Evil Pepe Coin presents an exciting opportunity for those seeking the next big meme coin. Its presale campaign and growing hype suggest the potential for significant gains. As the meme coin space evolves, it’s essential to embrace change and consider fresh alternatives that offer new opportunities for investment.
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