PEPE, the meme coin that gained a lot of attention earlier this year, recently hit an all-time high (ATH), but has since struggled to maintain its momentum. The altcoin remained stuck in neutral and failed to gain significant traction.
However, a major development on the horizon could breathe new life into the market and drive growth. On December 5, PEPE will be listed on Binance.US. The move is expected to increase liquidity and attract new investors, potentially catalyzing a new upward trend for PEPE.
PEPE looks to the future
Currently, short-term holders are dominating the PEPE provide. These holders, who generally hold their assets for less than a month, represent more than 48% of the total supply. While this indicates a volatile market, it also means that the majority of PEPE holders might be more inclined to sell their positions quickly.
However, despite this dominance, the potential increase in liquidity following PEPE’s listing on Binance.US could offset the selling pressure. Increased trading volume can absorb selling pressure from short-term holders, providing a window for further investment and price stability. Listing on Binance.US will likely open the door to a broader market of retail and institutional investors.
The macroeconomic dynamics of PEPEas indicated by Chaikin Money Flow (CMF), has recently shown a decline. The CMF, which tracks the flow of money into and out of an asset, has been reflecting outflows in recent weeks.
This downward trend indicates that, without new investments, the PEPE could continue to struggle to maintain its previous achievements. The decline in CMF suggests that current holders are either liquidating their positions or not reinvesting, which could limit PEPE growth unless new capital enters the market.
To reverse the current trend, PEPE will need an increase in buying pressure, which could come from the listing on Binance.US. The expected influx of liquidity from the listing could counterbalance the outflows reflected in the CMF, pushing the same coin into a new phase of upward momentum. This increase in investor participation would be crucial to supporting price growth and potentially propelling PEPE towards its ATH.
PEPE Price Prediction: New ATH Likely
Action on PEPE prices has remained in a tight range of $0.00002334 to $0.00001793 over the past three weeks. For the cryptocurrency to set a new all-time high (ATH), it must break through this consolidation. A sustained price movement outside of this range would indicate a change in market sentiment.
Currently, PEPE’s ATH stands at $0.00002597, which is 20% above the current price of $0.00002158. A price increase beyond this point is possible, especially with the ongoing listing of Binance.US. Positive market reactions to this event could trigger an upward trend, supporting the possibility of reaching new highs and strengthening investor confidence in PEPE’s future prospects.
If PEPE fails to exit its consolidation phase, it could face downward pressure. In this scenario, a decline to $0.00001489 becomes more likely, weakening any bullish outlook. This decline would call into question the sustainability of The price of PEPE dynamic, leading to a more cautious market approach.
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