{"id":104712,"date":"2023-06-05T23:51:06","date_gmt":"2023-06-05T23:51:06","guid":{"rendered":"https:\/\/dripp.zone\/news\/index.php\/2023\/06\/05\/pepes-hopes-of-a-corrective-bounce-remain-elusive-crypto-news\/"},"modified":"2023-06-05T23:51:10","modified_gmt":"2023-06-05T23:51:10","slug":"pepes-hopes-of-a-corrective-bounce-remain-elusive-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/pepes-hopes-of-a-corrective-bounce-remain-elusive-crypto-news\/","title":{"rendered":"PEPE&#8217;s hopes of a corrective bounce remain elusive\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><i><span style=\"font-weight: 400;\">Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion.<\/span><\/i><\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/PEPE\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Pepe&#8217;s [PEPE]<\/span><\/a><span style=\"font-weight: 400;\">  The frenzy seemed to be fizzling out, dragging its price with it.  Recent <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/here-are-the-odds-on-pepecoins-survival-over-the-next-few-years\/\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">reports<\/span><\/a><span style=\"font-weight: 400;\">  dissected the uncertainty and future surrounding the months-old frog-themed meme coin. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">From over a billion dollars&#8217; worth of market cap at its peak, PEPE has dropped to below $500 million as of press time, according to <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coinmarketcap.com\/currencies\/pepe\/\" data-wpel-link=\"external\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">,  That means it has shredded over 50% of its value on the price charts. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">PEPE&#8217;s price was $0.0000011922 at press time, down about 7% in the past 24 hours.  The plunge followed <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/search\/BTC\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">Bitcoin&#8217;s [BTC]<\/span><\/a><span style=\"font-weight: 400;\">  sharp drop from the $27k price zone, setting PEPE to retest a key demand zone.  <\/span><\/p>\n<h4>Will the demand zone inflict a price reversal?<\/h4>\n<div id=\"attachment_318615\" style=\"width: 1960px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPEUSDT_2023-06-05_11-24-31.png\" data-wpel-link=\"internal\"><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318615\" class=\"size-full wp-image-318615\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPEUSDT_2023-06-05_11-24-31.png\" alt=\"\" width=\"1950\" height=\"1109\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPEUSDT_2023-06-05_11-24-31.png 1950w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPEUSDT_2023-06-05_11-24-31-300x171.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPEUSDT_2023-06-05_11-24-31-1024x582.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPEUSDT_2023-06-05_11-24-31-768x437.png 768w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPEUSDT_2023-06-05_11-24-31-1536x874.png 1536w\" sizes=\"auto, (max-width: 1950px) 100vw, 1950px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-318615\" class=\"wp-caption-text\">Source: PEPE\/USDT on TradingView<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">In early May, PEPE saw a strong corrective bounce at the demand zone of $0.000000850 \u2013 $0.000001188 (cyan).  The demand zone is also a bullish order block (OB).  There was another substantial bounce from the above level in mid-May, making it a key demand zone. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, a retest of the zone in late May only led to a meek price bounce, discarding hopes of a price reversal.  The recent BTC move has exerted more bearish pressure on the meme-coin, pushing it to retest the bullish OB again at press time. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The weak BTC could expose PEPE to more selling pressure, and a drop to $0.0000008579 or lower is feasible. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Conversely, a bullish BTC and subsequent retest of $28k could set PEPE to a strong recovery.  Northwards, resistance levels lie at $0.0000015155, $0.000001759, and $0.000002082. <\/span><\/p>\n<hr\/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">How much are <\/span><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ambcrypto.com\/convert\/1-pepe-to-usd\" data-wpel-link=\"internal\"><span style=\"font-weight: 400;\">1,10,100 PEPEs worth today<\/span><\/a><span style=\"font-weight: 400;\">,<\/span><\/p>\n<hr\/>\n<p><span style=\"font-weight: 400;\">The RSI hovered below the neutral position in the second half of May and early June.  It shows increased selling pressure in the same period.  Also, the OBV dipped \u2013 demand declined.<\/span><\/p>\n<h4>A neutral position\u2026<\/h4>\n<div id=\"attachment_318619\" style=\"width: 1219px\" class=\"wp-caption aligncenter\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318619\" class=\"size-full wp-image-318619\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"\" width=\"1209\" height=\"589\" data-lazy-srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short.png 1209w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short-300x146.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short-1024x499.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short-768x374.png 768w\" data-lazy-sizes=\"(max-width: 1209px) 100vw, 1209px\" data-lazy-src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-318619\" class=\"size-full wp-image-318619\" src=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short.png\" alt=\"\" width=\"1209\" height=\"589\" srcset=\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short.png 1209w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short-300x146.png 300w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short-1024x499.png 1024w, https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/06\/PEPE-exchange-long_short-768x374.png 768w\" sizes=\"auto, (max-width: 1209px) 100vw, 1209px\"\/><\/noscript><\/a><\/p>\n<p id=\"caption-attachment-318619\" class=\"wp-caption-text\">Source: Coinglass<\/p>\n<\/div>\n<p><span style=\"font-weight: 400;\">PEPE&#8217;s exchanges&#8217; long\/short ratio exhibited a small spread between longs and shorts.  Sellers had slight leverage at 50.19%, but longs were close by at 49.81%.  As such, the futures market is neutral, and prices could take any direction from the press time level. <\/span><\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer&#8217;s opinion. Pepe&#8217;s [PEPE] The frenzy seemed to be fizzling out, dragging its price with it. Recent reports dissected the uncertainty and future surrounding the months-old frog-themed meme coin. From over a billion dollars&#8217; worth of [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":104713,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[230,225,221,227,226,228,229,60,223,224,222],"class_list":["post-104712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-brave","tag-coinbase","tag-crypto","tag-decentralised","tag-decentralized","tag-decentralized-exchange","tag-erc-20","tag-featured","tag-meme-coin","tag-robinhood","tag-solana"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/104712","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=104712"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/104712\/revisions"}],"predecessor-version":[{"id":104714,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/104712\/revisions\/104714"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/104713"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=104712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=104712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=104712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}