PEPE price is showing signs of a breakout despite a slight decline in the past 24 hours. Investors' support adds a positive outlook for this meme coin.
PEPE price may be breaking out of a bullish descending wedge pattern since mid-May. Notably, the dominance of short-term holders, who typically sell quickly, has dropped to a record low of 8%, reducing selling pressure.
This lower influence of short-term holders indicates more investors are holding PEPE longer. This trend could contribute to a more stable price.
The Chaikin Money Flow (CMF) indicator for PEPE shows strong inflows, suggesting significant capital entering the market, aiding potential recovery.
Despite positive signals, the article notes potential for a decline as well. If PEPE's price manages to break out, aiming for $0.00001146, it could lead to a 79% rise, surpassing previous highs. However, failure to hold above support levels could result in a drop to $0.00000600 or lower.
