{"id":398948,"date":"2024-06-12T15:30:09","date_gmt":"2024-06-12T10:00:09","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=398948"},"modified":"2024-06-12T10:50:31","modified_gmt":"2024-06-12T05:20:31","slug":"as-pepe-loses-15-92-in-7-days-is-this-a-potential-support-level","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/as-pepe-loses-15-92-in-7-days-is-this-a-potential-support-level\/","title":{"rendered":"As PEPE loses 15.92% in 7 days, Is THIS a potential support level?"},"content":{"rendered":"<ul>\n<li><em>Rising volume combined with the price decrease might drive a lower value for the memecoin.<\/em><\/li>\n<li><em>If a reversal occurs, PEPE could jump to $0.000014<\/em>.<\/li>\n<\/ul>\n<p>The last seven days have been tough for memecoins including <a href=\"https:\/\/ambcrypto.com\/category\/pepe-coin-news\/\" target=\"_blank\" rel=\"noopener\">Pepe [PEPE]<\/a>. According to data from CoinMarketCap, the price of the token was $0.000012.<\/p>\n<p>This represented a 15.92% decrease in the last seven days.<\/p>\n<p>However, it does not seem like things would change for the better. One reason for this could be linked to PEPE&#8217;s increasing volume.<\/p>\n<p>At press time, the was $1.22 billion. An increase in volume means that interest in a particular cryptocurrency is increasing. On the other hand, a decrease in volume suggest less buying and selling.<\/p>\n<h2>No way ahead for the memecoin<\/h2>\n<p>If volume increases alongside the price, it means that there is a lot of buying going on. In this case, the uptrend could be strengthened.<\/p>\n<p>However, while PEPE&#8217;s volume increased, the price fell, indicating that the <a href=\"https:\/\/app.santiment.net\/charts\/GRiTRk7N__sCl\" target=\"_blank\" rel=\"noopener\">downtrend<\/a> could get stronger. If this continues, the price of the token might tumble, and a target of $0.000020 could be possible.<\/p>\n<figure id=\"attachment_398949\" aria-describedby=\"caption-attachment-398949\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-volume-and-price.png\"><img decoding=\"async\" class=\"size-full wp-image-398949\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-volume-and-price.png\" alt=\"PEPE's shows a bearish signal\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-volume-and-price.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-volume-and-price-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-volume-and-price-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-volume-and-price-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-volume-and-price-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-volume-and-price-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-volume-and-price-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-398949\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>A few days ago, AMBCrypto <a href=\"https:\/\/ambcrypto.com\/pepe-whales-buy-the-dip-but-is-that-enough-for-the-memecoin\/\" target=\"_blank\" rel=\"noopener\">reported<\/a> that whales were buying the dip. In non-crypto terms, a whale is an individual that possesses large quantities of a cryptocurrency.<\/p>\n<p>Because of their large holdings, whales have the capability to influence price significantly. However, the effect of the accumulation has yet to reflect on the memecoin&#8217;s price.<\/p>\n<p>As a result, we went ahead to check if selling was still intense or not. To do this, we looked at the exchange flow.<\/p>\n<p>According to Santiment, the exchange inflow was 5.63 billion. On the other hand, PEPE&#8217;s exchange outflow was $5.67 billion. Exchange Inflow tracks the number of tokens sent to exchanges.<\/p>\n<p>An increase in the Exchange Inflow, most times, lead to a <a href=\"https:\/\/ambcrypto.com\/why-pepe-bulls-should-brace-for-price-drops-next-week\/\" target=\"_blank\" rel=\"noopener\">price decrease<\/a>. However, if the exchange outflow increases, it means market participants are choosing to hold the cryptocurrency.<\/p>\n<figure id=\"attachment_398950\" aria-describedby=\"caption-attachment-398950\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-exchannge-flow.png\"><img decoding=\"async\" class=\"size-full wp-image-398950\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-exchannge-flow.png\" alt=\"PEPE's price might fall to $0.000010\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-exchannge-flow.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-exchannge-flow-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-exchannge-flow-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-exchannge-flow-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-exchannge-flow-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-exchannge-flow-2048x693.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-exchannge-flow-1200x406.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-398950\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<p>Hence, the <a href=\"https:\/\/app.santiment.net\/charts\/SJ8jFZ8J__sCl\" target=\"_blank\" rel=\"noopener\">difference<\/a> in the inflow and outflow was minimal. Therefore, the token might not undergo another correction.<\/p>\n<h2>PEPE&#8217;s price eyes $0.000010<\/h2>\n<p>As such, PEPE might not fall below $0.000010. However, if the market condition gets overheated, bearish forces might lead the price lower.<\/p>\n<p>From the technical perspective, AMBCrypto analyzed the token on the 4-hour chart. First off, we looked at the Fibonacci retracement tool, which shows a specific support and resistance point.<\/p>\n<p>This could be vital to the price movement of the token. At press time, the 0.236 Fibonacci level was at $0.000010. This was a support level for PEPE, and indicates that the price might drop to the region.<\/p>\n<p>This was also supported by the Moving Average Convergence Divergence (MACD). At press time, the MACD was positive.<\/p>\n<figure id=\"attachment_398951\" aria-describedby=\"caption-attachment-398951\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-price-analysis.png\"><img decoding=\"async\" class=\"size-full wp-image-398951\" src=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-price-analysis.png\" alt=\"PEPE price, support and resistance\" width=\"2560\" height=\"1600\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-price-analysis.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-price-analysis-300x187.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-price-analysis-1024x640.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-price-analysis-768x480.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-price-analysis-1536x960.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-price-analysis-2048x1280.png 2048w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2024\/06\/pepe-price-analysis-1200x750.png 1200w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-398951\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"https:\/\/ambcrypto.com\/predictions\/pepe-price-prediction\" target=\"_blank\" rel=\"noopener\">Pepe&#8217;s [PEPE] Price Prediction<\/a> 2024-2025<\/p>\n<hr \/>\n<p>But the 12 EMA (blue) and 26 EMA (orange) were in the negative region, implying that the momentum was not completely bullish.<\/p>\n<p>However, if buying pressure increases, PEPE&#8217;s price could key into the $0.000014 resistance where the 0.618 golden ratio resided.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Respite does not seem close despite the intense selling pressure that PEPE has experienced.<\/p>\n","protected":false},"author":72,"featured_media":398953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[5824,66,3,6390,4,20],"tags":[],"class_list":["post-398948","post","type-post","status-publish","format-standard","has-post-thumbnail","category-memecoins","category-new-news","category-news","category-pepe-coin-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>As PEPE loses 15.92% in 7 days, Is THIS a potential support level? - AMBCrypto<\/title>\n<meta name=\"description\" content=\"The last seven days have been tough for memecoins, including Pepe. 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