{"id":301729,"date":"2024-05-14T20:04:37","date_gmt":"2024-05-14T14:34:37","guid":{"rendered":"https:\/\/dripp.zone\/news\/key-levels-to-watch-as-pepe-coin-enters-price-discovery-mode-crypto-news\/"},"modified":"2024-05-14T20:05:29","modified_gmt":"2024-05-14T14:35:29","slug":"key-levels-to-watch-as-pepe-coin-enters-price-discovery-mode-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/key-levels-to-watch-as-pepe-coin-enters-price-discovery-mode-crypto-news\/","title":{"rendered":"Key Levels To Watch as Pepe Coin Enters Price Discovery Mode &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">On Monday, the Meme cryptocurrency witnessed a notable inflow outperforming the other section amid current market consolidation. Within this memecoin sector, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/pepe-coin-hits-new-ath-smart-moneys-shift-250-5b-pepe-what-next\/\">PEPE<\/a> coin experienced special attention as the asset increased over 15% today in Asian trading hours and reached a new All-time High of $0.00001128. Will this momentum sustain as the leading digital asset Bitcoin continues to waver at $60000?<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/meme-coin-party-begins-after-gamestop-rally-adds-5-billion-to-index\/\">Meme Coin Party Begins After GameStop Rally, Adds $5 Billion To Index<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><span style=\"font-weight: 400;\">Pepe Coin Recovery Faces Challenges Amid Whale Profit-Taking<\/span><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/t\/tyr6TVMF.png\" alt=\"BINANCE:PEPEUSDT Chart \" width=\"1946\" height=\"937\"\/><\/noscript><figcaption class=\"wp-caption-text\">Pepe Coin| Tradingview<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The ongoing recovery in <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/pepe-coin\/\">Pepe Coin price<\/a> can be followed using an emerging support trendline in the daily chart. This dynamic support has uplifted from $0.00000393 to $0.00001096 within a month, registering a 178.85 gain.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With a notable upsurge in the Meme sector this week, the PEPE price gave a decisive breakout from the previous all-time high of $0.00001084 and hit a new high of $0.00001128. However, a daily candle closing above the breached level is needed to better confirm a prolonged rally.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">As per the traditional pivot level, the PEPE coin is a price discovery mode that can witness overhead supply at $0.0000138 and $0.0000167, coinciding with the R2 and R3 for the Pivot level.<\/span><\/p>\n<\/blockquote>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/sponsored\/can-pepe-coin-become-a-top-10-cryptocurrency-on-coinmarketcap-in-may\/\">Can Pepe Coin Become A Top 10 Cryptocurrency On CoinMarketCap In May?<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">However, an on-chain data tracker SpotOnChain, recently highlighted significant profit-taking activities by whales in the PEPE cryptocurrency market, following a record-setting surge in its price.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">One early holder of PEPE, identified by the wallet address 0x647, notably deposited 250 billion PEPE tokens (valued at $2.69 million) into Binance. This investor still retains 42.4 billion PEPE, valued at $424,000, realizing an enormous profit of $3.96 million, an increase of 8,833% on their initial investment.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Whales have taken profits after the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24PEPE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$PEPE<\/a> price recorded a new ATH (24H)! Have you taken yours?<\/p>\n<p>1. Early holder 0x647 deposited 250B <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24PEPE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$PEPE<\/a> ($2.69M) to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> ~12 hours ago.<br \/>\u2013 The whale has 42.4B <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24PEPE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$PEPE<\/a> ($424K) left with a total profit of $3.96M (+8,833%).<\/p>\n<p>2. Whale 0xa4f 123.7B\u2026 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/AxUxvMSYac\">pic.twitter.com\/AxUxvMSYac<\/a><\/p>\n<p>\u2014 Spot On Chain (@spotonchain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/spotonchain\/status\/1790255638054043925?ref_src=twsrc%5Etfw\">May 14, 2024<\/a><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Another prominent whale, operating under the wallet address 0xa4f, moved 123.7 billion PEPE for $1.31 million Coin (USDC), earning a 20.5% profit of $223,000 after just three days.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">These heavy transactions indicate that smart money traders are expecting more major movement in PEPE price or a possibility of fresh correction.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If the overhead supply prevents PEPE from further gain, the aforementioned support trendline will be a key support for buyers to maintain the recovery trend.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Technical Indicator<\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Average Directional Index: <\/b><span style=\"font-weight: 400;\">The daily ADX slope uptick at 22% hints the renewed recovery is still in the early stage and buyers have sufficient momentum to lead a higher rally.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Traditional Pivot levels: <\/b><span style=\"font-weight: 400;\">The R<\/span><span style=\"font-weight: 400;\">3 Pivot level indicates the recently breached $0.0000092 will act as suitable pullback support for PEPE buyers.<\/span><\/li>\n<\/ul>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p class=\"m-0\">Related Articles<\/p>\n<p>                                <!-- \n\n<div class=\"desktopPostEnd d-on\"><\/div>\n\n --><\/p>\n<div class=\"m-on mobiless\">\n<div id=\"social-section-new\">\n<p>\u2713 Share:<\/p>\n<p>                                  <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new wp_new\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/coingape.com\/markets\/key-levels-to-watch-as-pepe-coin-enters-price-discovery-mode\/\" style=\"display: block\">  <i class=\"fa fa-whatsapp\"\/><\/a><\/p>\n<div>\n                                <a rel=\"nofollow noopener\" target=\"_blank\" class=\"social-text_new tw_new_logo\" href=\"https:\/\/twitter.com\/intent\/tweet?text=https:\/\/coingape.com\/markets\/key-levels-to-watch-as-pepe-coin-enters-price-discovery-mode\/\"><br \/>\n  <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\" class=\"mb-1\" alt=\"coingape\" width=\"30\" height=\"30\"\/><br \/>\n<\/a>\n                                <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>          <!-- \n\n<div class=\"m-on pl-2 pr-2\">\n            \n\n<div class=\"row\">\n            \n\n<div class=\"col-6 pr-2\">\n         \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-7-crypto-marketing-firms-of-the-year\/?utm_source=abovesidebartabnews&utm_medium=organicarticle\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"\" decoding=\"async\" ><\/div>\n\n\n                \n\n<div class=\"Sponserdtent_2 mt-2\">Top Crypto Marketing Firms \/ Agencies 2023; 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outperforming the other section amid current market consolidation. Within this memecoin sector, the PEPE coin experienced special attention as the asset increased over 15% today in Asian trading hours and reached a new All-time High of $0.00001128. Will this momentum sustain as the leading digital asset [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":285721,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-301729","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301729","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=301729"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301729\/revisions"}],"predecessor-version":[{"id":301731,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/301729\/revisions\/301731"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/285721"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=301729"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=301729"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=301729"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}