Peppe coin like the rest of the Crypto market, once again sent below the price beet below on the Tvard, it has set the memes on the way of another recession that can be in an accident of $ 0.00001 resistance. However, with the new weeks, some positive changes have taken place, and indicators are starting points to make a harmful recovery that send the interest price.
Pepe enters the consolidation phase
The price of Pepe is dangerously close to the support of $ 0.00001, and for this reason the jumping is not able to comment, eliminating the risk of voting of the bear. Crypto analyst masters Property For the fact that the devil is that the entire market is in a retracement, and thus, it is not a perfectly run by unique factors. Pepe meme coin,
It is also the fact that the cryptocurrency is capable of catching quite well despite the decline in the market, suggesting that the market still has some level of strength. It is shown in many waves of bullets and recession trends that have been seen so far this year, with a local peak in May, and then another in July.
Despite the fall, Crypto analysts say that Peppe is actually trading in a very string structure. This is actually notable in the fact that the pepes managed to remain $ 0.00001- $ 0.000011 without breaking inside the structure. Given that a highly seen in June, speculation believes that it means that it will not make a new low design accident.
Another factor that indicates a los -upward obesity for the price of Pepe, the fact that the volume is significantly reduced. The data from the Coinglass website suggests that the amount of day business was higher as $ 5 billion in the month of July, which led to the dutting of the market rally.
However, since then, there is a noticeable decline in the daily trading volume for the meme coin. By the beginning of August, the trading volume had a $ 2 billion mark, which at the time stood at the time of writing $ 1.2 billion. It translates it for a decrease of 76% from July 12, less than a month ago.
Given that a small amount of often indicates the end of the tendency of a slowdown, it is possible that the pepe will reach the bottom before it is cured. Another potential scenario mentioned by Crypto Anilist is that the price of a flash crush after a quick recovery, but with the same results, which is a price.
The coin of Pepe Meme is also in the trend of a consolidation after the decline. Altcoin has been dominated by the side of this consolidation and the action of medieval. Since consolids trends historically know for anapted, it is as if Peppe wounds another wave of development once this consolidation ends.
Specially displayed image from Dall.E, chart from traudingView.com
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