{"id":311642,"date":"2024-05-28T19:58:54","date_gmt":"2024-05-28T14:28:54","guid":{"rendered":"https:\/\/dripp.zone\/news\/20-correction-looms-amid-declining-volume-crypto-news\/"},"modified":"2024-05-28T20:00:44","modified_gmt":"2024-05-28T14:30:44","slug":"20-correction-looms-amid-declining-volume-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/20-correction-looms-amid-declining-volume-crypto-news\/","title":{"rendered":"20% Correction Looms Amid Declining Volume &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><span style=\"font-weight: 400;\">Pepe Coin Price Analysis: The fourth week of May has been notably bullish for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/trending\/can-pepe-price-surge-any-higher-technical-indicators-indicate-pullout\/\">Pepe coin<\/a>, which saw its price surge from $0.00009 to $0.000016, marking a 79% increase. This rally was primarily driven by the recent approval of spot Ethereum and Bitcoin nearing the $70,000 mark. However, this week, PEPE\u2019s recovery momentum has slowed, accompanied by decreasing trading volumes, indicating the potential onset of a new correction trend.<\/span><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/blog\/maga-vs-pepe-top-reasons-maga-might-flip-pepe\/\">MAGA vs PEPE : Top Reasons MAGA Might Flip PEPE?<\/a><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<h2><strong>PEPE Team Cashes Out $2.28M in Tokens as Price Hits New ATH<\/strong><\/h2>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/p\/pR2M6S54.png\" alt=\"BINANCE:PEPEUSDT Chart \" width=\"1946\" height=\"893\"\/><\/noscript><figcaption class=\"wp-caption-text\">Pepe Coin Price Analysis| Tradingview<\/figcaption><\/figure>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">An analysis of the daily time frame shows that the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/pepe-coin-price-slips-dev-team-sells-22b-pepe-what-next\/\">PEPE<\/a> coin price has been riding a steady recovery for the past six weeks under the influence of an ascending trendline. The series of new higher lows indicate an active accumulation trend which uplifted this memecoin from $0.00000393 to $0.000016 recording a 300% jump.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">However, with <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/bitcoin-price-regains-70000-memorial-day-rally-in-play\/\">Bitcoin<\/a> consolidating above $65,000 for over a week, the altcoin market has shown signs of weakening bullish momentum. PEPE coin mirrored this trend, evidenced by the formation of short-bodied candles and decreasing trading volume, indicating a potential slowdown in its upward trajectory.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Moreover, the on-chain tracker\u2019s Spot On Chain reported notable activity involving the PEPE token. The PEPE development team sold 21.49 billion $PEPE ($355K) on Binance and DEXs after the token\u2019s price soared 134% in 30 days to a new ATH. Since late February, the team has sold 282.8 billion $PEPE ($2.28M) at an average price of $0.000008067, often before price drops. Currently, the team holds 2.52 trillion $PEPE ($42.7M).<\/span><\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">13 hours ago, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/pepecoineth?ref_src=twsrc%5Etfw\">@pepecoineth<\/a> sold 21.49B <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24PEPE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$PEPE<\/a> ($355K) via <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Binance?src=hash&#038;ref_src=twsrc%5Etfw\">#Binance<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DEX?src=hash&#038;ref_src=twsrc%5Etfw\">#DEX<\/a> after the price soared 134% (30D) to a new ATH!<\/p>\n<p>Since the price rose in late Feb, the PEPE dev team has sold 282.8B <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24PEPE&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$PEPE<\/a> at ~$0.000008067 ($2.28M), often before the price dropped \ud83d\udc47<\/p>\n<p>Current holding:\u2026 <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/NKm4k0YvnL\">pic.twitter.com\/NKm4k0YvnL<\/a><\/p>\n<p>\u2014 Spot On Chain (@spotonchain) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/spotonchain\/status\/1795256866882421010?ref_src=twsrc%5Etfw\">May 28, 2024<\/a><\/p>\n<\/blockquote>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.82 --><\/p>\n<p><span style=\"font-weight: 400;\">If the overhead supply intensifies, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/price\/pepe-coin\/\">PEPE price<\/a> could plunge around 20% to revisit the aforementioned trendline. Until this dynamic support is intact, the Frog-themed memecoin could prolong the current uptrend.<\/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>Exponential Moving Average: <\/b><span style=\"font-weight: 400;\">The 20-and-50-day <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> provides additional pullback support to sustain this recovery trend.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Average Directional Index: <\/b><span style=\"font-weight: 400;\">An upswing in ADX slope at 44% indicates an exhausted trend that needs minor correction to restore bullish momentum.<\/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\/pepe-coin-price-analysis-20-correction-amid-declining-volume\/\" 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\/pepe-coin-price-analysis-20-correction-amid-declining-volume\/\"><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; Here\u2019s Best Picks [Updated]\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                  \n\n<div class=\"col-6 pl-2\">\n                 \n\n<div class=\"Borderboxies_2 mb-3  fullmobx\">\n             \n            <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/top-10-web-3-games-to-explore-in-2023-here-list\/\">\n            \n\n<div class=\"SponserdyWebimg_2\"><img loading=\"lazy\" width=\"834\" height=\"833\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.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 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n\n\n            <\/a>\n          \n            <\/div>\n\n\n            <\/div>\n\n\n                <\/div>\n\n\n        <\/div>\n\n                    --><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA199238\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD199238\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. 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bullish for Pepe coin, which saw its price surge from $0.00009 to $0.000016, marking a 79% increase. This rally was primarily driven by the recent approval of spot Ethereum and Bitcoin nearing the $70,000 mark. However, this week, PEPE\u2019s recovery momentum has slowed, [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":302462,"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-311642","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\/311642","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=311642"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/311642\/revisions"}],"predecessor-version":[{"id":311643,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/311642\/revisions\/311643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/302462"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=311642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=311642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=311642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}