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PEPE Coin Eyes New ATH: Key Obstacles to Watch

PEPE coin eyes new ATH despite challenges. Whales and market trends hold the key

3 min November 30, 2024

Highlights:

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PEPE struggles after ATH, facing bearish signals and whale sell-offs.

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December offers a chance for recovery, targeting $0.00002600 amid market volatility.

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Whale activity and Bitcoin’s performance will shape PEPE coin’s next breakout attempt.

PEPE Coin Eyes New ATH: Key Obstacles to Watch

Pepe Coin has faced a bumpy ride recently. After breaking resistance and hitting $0.00002524, PEPE experienced a sharp drop. However, December might present an opportunity for a breakout, according to experts and technical analysis.

 

Bearish Momentum and Whale Activity

 

 

Recent trends show bearish signals for Pepe coin. The MACD indicator turned bearish on the daily chart, hinting at further declines. Analysts see no clear bottom yet, making a quick rebound unlikely before the month ends.

 

December could bring a chance for recovery, with bulls targeting $0.00002600. However, extreme market volatility poses challenges. A potential Bitcoin rally to $100K could pull attention away from memecoins.

 

Whales have significantly influenced PEPE’s price action. Before the last all-time high, they accumulated 4.1 trillion tokens. Since then, many large holders have sold their positions, contributing to the recent downtrend. 

 

Shifting Market Trends Challenge Memecoins

 

The current cycle shows a shift in capital flow. Institutional investors and ETF buyers are ignoring memecoins. Altcoins have emerged as stronger performers, drawing most of the market’s attention.

 

Historically, memecoins thrived during Bitcoin’s major price moves. For example, in mid-May, PEPE gained 20% daily when Bitcoin hit $70K. Today, however, investors lean toward high-cap tokens, seeking more stability.

 

Despite these changes, PEPE coin has shown resilience. Over the past three days, small daily gains have kept prices steady between $0.0000180 and $0.0000200. Spot traders remain optimistic, suggesting potential consolidation before a breakout.

 

For PEPE coin to reach a new all-time high, whale activity must support bullish momentum. While challenges are significant, December may still offer a path forward. Patient traders could see PEPE return to the spotlight with the right conditions.

 

 

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