PEPE Price Correction and Investor Behavior 🐸
PEPE price is beginning to witness the effects of having a meme coin enthusiast investor profile who backs down amidst the slightest bearishness. This will likely cause a massive correction in the frog-themed meme token.
PEPE Investors Back Out 📉
– Pepe’s price will likely move from noting the potential decline to observing a definite decline due to its investors
– Meme coin holders tend to be active during bull markets and pull back as soon as the tone shifts
– 18,000 addresses were active simultaneously, but now the network has only 2,383 investors
– Futures market traders exhibit similar behavior, reflected in the Open Interest (OI)
– PEPE’s OI stands at $76 million, down from $126 million less than 30 days ago
PEPE Price Prediction: Hold Out Hopes 📊
– The PEPE price is likely on the verge of a decline, close to falling through the $0.00000633 support floor
– Losing this support would send the meme coin to $0.00000474, marking a 30% correction
– The $0.00000633 support level has been tested multiple times in the past, potentially preventing further decline
– Recovery to $0.00000826 is possible if bearish thesis is invalidated
The post Bearish Signals Spook PEPE Enthusiasts: Is a Significant Price Correction Imminent? appeared first on BeInCrypto.
Hot Take: Keep an Eye on PEPE’s Price Movements 📉
PEPE investors are showing signs of backing out, leading to a potential significant price correction. Keep a close watch on the price movements to determine the future direction of this meme coin.
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