PEPE Eyes Uptrend Amid Mixed Market Signals
Key Takeaways
- PEPE is currently forming a bullish price pattern, suggesting a potential upward trend.
- However, technical indicators point to a possible correction of up to 11%.
- Spot traders accumulated PEPE worth 37 million USD over the past week.
- Declining trading volume and negative funding rates indicate potential short-term weakness.
PEPE in an Uptrend – But Facing Headwinds
The memecoin PEPE has recently formed a bullish structure. On the 4-hour chart, the price is moving within an ascending triangle – a pattern that often signals an impending breakout to the upside. However, despite this positive formation, there are clear signs of a potential price correction.
Technical Analysis: Death Cross and Selling Pressure
A major warning signal is the so-called “Death Cross.” This occurs when the short-term moving average (20-day SMA) falls below the long-term moving average (200-day SMA). In chart analysis, this is considered a sign of a potential downtrend. Currently, the price is approaching the lower boundary of the triangle – a critical level.
The Accumulation/Distribution (A/D) indicator also shows that PEPE is in a distribution phase. This means that many market participants are selling their holdings, increasing selling pressure.
Falling Trading Volume Despite Price Increase
Over the past 24 hours, the price of PEPE has risen by 1.49%. At the same time, trading volume dropped by 36.4%. This so-called price-volume divergence suggests that the increase is not supported by sustained buying interest. Such movements are often considered unstable.
Derivatives Market: Short Positions Dominate
Looking at the derivatives market: the funding rate currently stands at -0.0097. A negative funding rate means that short traders (those betting on falling prices) dominate. They pay a fee to maintain their positions – another sign of bearish market sentiment.
Spot Traders Are Buying the Dip
Despite the negative signals from the derivatives market, spot traders continue buying PEPE. Over the past week, approximately 37 million USD has flowed into the memecoin. For comparison: the last major accumulation occurred on March 3, when 53 million USD was invested in PEPE.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 3 minutes
-
Love and Valentine’s Day Slots – The Most Romantic Slot Games
Reading time: ~ 3 minutes
-
Medium Volatility Slots
Reading time: ~ 3 minutes
-
Space Slots – Best Space-Themed Slots
Reading time: ~ 3 minutes
-
Gold Slots – Best Slot Machines With a Gold Theme
Reading time: ~ 3 minutes
These purchases could be seen as a strategic move. Traders appear to be taking advantage of the current weakness to enter at a lower price – hoping for a later recovery.
Our Assessment
PEPE is currently at a turning point. The technical structure supports a potential continuation of the uptrend. At the same time, indicators like the Death Cross, falling volume, and a negative funding rate call for caution. A short-term correction could follow, especially if the price breaks below the lower boundary of the triangle.
In the long term, continued interest from spot traders remains a stabilizing factor. Anyone trading PEPE should closely monitor technical developments and apply proper risk management.
Sources
- TradingView
- CoinGlass
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency