Approximately 38% of active PEPE addresses are currently in profit. This has raised concerns about potential sell pressure as holders may look to secure gains. Market watchers note that sustained profit-taking could slow PEPE’s recent rally, though overall optimism remains evident.
Technical indicators also point to significant buying interest. Chaikin Money Flow, a means of measuring capital inflow, has surged above the neutral line after weeks of minimal activity. This depicts a renewal of confidence among investors, which helped PEPE to sustain the bullish trend.
The price of the PEPE is likely to remain above the key support line of $0.00002334. Moving above this level might open a path toward further appreciation that could break the current ATH. Conversely, if it falls below $0.00002334, a potential decline toward $0.00001793 could be witnessed, which may hamper the altcoin’s positive momentum.
Market participants are closely monitoring PEPE’s next moves. Sustained inflows and support at critical price levels could drive another rally. Conversely, increasing sell-offs could signal a cooling period for the altcoin.
PEPE’s performance highlights its growing influence in the crypto market, making it a token to watch in the coming days.
