PEPE Price Stagnation: Short-Term Holders Pose Risk to Recovery
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PEPE price is currently experiencing a mild consolidation and potential downtrend due to the moderately bearish sentiment among investors. The risk lies mainly with short-term holders, who dominate 20% of the circulating supply. Their presence could lead to selling, hampering recovery chances.
Active addresses by profitability show over 25% of investors are in profit, making them prone to selling. This sentiment contributes to the bearish outlook.
PEPE is trading at $0.00001173, above the support of $0.00001146 but failing to breach $0.00001369. Breaching this line is crucial for reclaiming an uptrend; otherwise, recovery remains distant.
If selling intensifies, PEPE could lose support of $0.00001146 and fall to $0.00001007, invalidating the bullish-neutral thesis.
Fuente: beincrypto.com ↗
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