Pepecoin, known for its whimsical frog-themed design and devoted community, stands out amid a broader market recovery, where many cryptocurrencies are still struggling to regain their footing.
Not only has its recent price recovery left many Pepe Coin holders in profit, but it has also raised questions about the potential for profit-taking in the near future.
PEPE Market Recovery Highlights
Data from IntoTheBlock shows that 69% of Pepe Coin holders are currently profitable, reflecting investors’ positive sentiment. However, with only 27% of holders experiencing losses and 4% maintaining a neutral position, speculation exists about the potential for profit-taking. Profit-taking occurs when investors sell their assets to realize gains, often leading to short-term price corrections.
Market Dynamics and Future Outlook
As observers keenly track Pepe Coin’s movements, there’s a sense of excitement in the air. Expectations run high for a significant price shift that could see Pepe Coin shed a zero and reach new resistance thresholds. These forecasts fuel enthusiasm in the market, sparking lively discussions among investors and enthusiasts about where the coin’s price might be headed next.
This past weekend, crypto analyst Ali suggested PEPE could be gearing up for a significant move. He advises monitoring for a daily close above or below the $0.00000793–$0.0000664 range, potentially leading to a 54% price swing for PEPE. As analysts speculate about a substantial price shift, the PEPE community eagerly awaits developments.
At the time of writing, Pepe Coin is trading at $0.000004973 following a recent 10% decline. However, its trading volume decreased by 27.09% to $614 million on the last day. The coin’s value has fluctuated between $0.000005535 and $0.000004885 in the past 24 hours, with a Relative Strength Index (RSI) of around 39, indicating a neutral position.
New Pepe Coin Listings to Boost Recovery
In recent developments, Coinbase announced the addition of Pepe perpetual futures to its trading platforms, including Coinbase International Exchange and Coinbase Advanced. The market for 1000PEPE-PERP is set to open on April 18, 2024, providing traders with new opportunities to engage with PEPE.Â
Additionally, PEPE has expanded its reach by partnering with SwissBorg, a Swiss-based fintech platform. This partnership enables PEPE token holders to access 16 fiat currencies, including EUR and CHF, directly through the SwissBorg app, further enhancing the token’s utility.
