- PEPE stands at a crucial point—if it holds above $0.0000092, a rebound could follow.
- The number of total addresses holding PEPE with a balance has steadily increased, reaching 383.6K.
Recently, Pepe [PEPE] has emerged as a token of interest for many traders and investors. The token stands at a crucial point—if it holds above $0.0000092, a rebound could follow.
However, breaking below this level may lead to a decline towards $0.0000032.
Can PEPE hold the line?
Analyses made by AMBCrypto indicated that PEPE’s price has fluctuated around key Fibonacci levels.
At press time, it hovered near the 0.786 level at $0.0117220, a crucial support zone that has seen significant trading activity.
Alternatively, the volume profile indicated strong interest around this area.
Resistance at the 0.236 level of $0.0218044 has been tested multiple times, but the price has failed to break through, establishing a ceiling for the current trend.
If the trend line support holds, a rebound could materialize. Conversely, a break below may push the price lower towards the 0.382 level at $0.0191309, reinforcing the ongoing struggle between bullish and bearish forces.
The battle between buyers and sellers
Analysis of the distribution of addresses holding PEPE revealed key insights into market sentiment.
A significant portion of addresses were ‘in the money’ below $0.000003, suggesting many holders acquired the token at lower prices and remained profitable.
Source: IntoTheBlock
Meanwhile, a concentration of ‘out of the money’ addresses existed between $0.000013 and $0.000016, indicating potential selling pressure at these levels.
If the price moves upward, these holders may offload their tokens to break even, creating resistance.
The balance between these groups plays a vital role in determining whether PEPE rebounds or declines further.
PEPE sees unpredictable swings
PEPE’s volatility has remained significant, with a recent reading of 117.61% on the 16th of February. This followed a 30-day high of 132.63% on the 8th of February and a low of 105.25% on the 18th of January.
Source: IntoTheBlock
Such high volatility signals a dynamic price environment, where sharp movements can occur in either direction.
Historically, increased volatility has coincided with strong price swings, suggesting traders should be prepared for potential breakouts or breakdowns.
If the price holds above key support levels, a recovery could follow. However, if volatility remains elevated without price stability, further declines may be likely.
The role of early and new holders
The number of total addresses holding PEPE with a balance has increased, reaching 383.6K on the 15th of February, the highest in 30 days. The 30-day average was 376.56K, with a low of 366.54K on the 17th of January.
Source: IntoTheBlock
This rising trend indicates a growing holder base, suggesting long-term interest despite price fluctuations. Therefore, increasing the number of addresses with balances has supported price stability and potential recoveries.
If this trend continues, PEPE may find support at current levels. However, a decline in active addresses could weaken buying pressure, increasing the risk of a downturn.
Finally, should PEPE maintain its position above $0.0000092, a rebound may occur; however, breaking below this threshold could lead to a further decline toward $0.0000032, driven by the underlying market dynamics.
