The price of the PEPE piece imploded two digits from its top of all time, erasing most of the gains made in 2024.
Pepe (Pepper), a very popular piece of memes, was negotiated at $ 0.00,00084 on Thursday, down more than 70% compared to its highest level in December. However, there are several reasons why the play could bounce back and potentially reach its summit of $ 0.00002828.
The price of the PEPE room has formed a corner drop
The first main reason why the same piece could rebound soon is that it has formed a falling corner model and a bullish divergence on the daily graphic.
A falling corner is a pattern made up of two descending and convergent trend lines. In the case of Pepe, the upper side of this corner began to train shortly after reaching a record in December, while the lower trend line started to develop in November.
The two lines of trends are now converging, indicating that the lowering momentum is fading. Indeed, the average directional index, a popular indicator that measures the strength of a trend, has increased from 40 to 32.
The relative resistance index and MacD oscillators have formed a bullish divergence model. This model occurs when an oscillator increases while the price drops. This often leads to a strong escape, which, in this case, could push the price of PEPE to 0.00002828, up 245% compared to the current level.
Potential rotation of solara memes parts
The price of the PEPE room can benefit from the potential rotation of Solana’s corners of memes to more established tokens. The concerns have increased on the ecosystem of the piece even Solana as the number of carpet shooting scams increases. A notable case was the balance, which was promoted by Javier Milei.
Many other coins in the Solana ecosystem have decreased while the initiates have unloaded their assets. Pepe differs from these parts because it has a longer balance sheet, having been launched in 2023 and has jumped more than 3,500% since then.
17% of Pepe whales have never sold
In addition, the data compiled by Murad, a popular analyst X, shows that around 17% of pepe parts have never sold a room. This makes it the third largest token with this quality after SPX6900 (SPX) and Gigachad. It is a sign that these whales hope that the room will bounce back over time.
In addition to whales, the number of pepe holders continued to increase despite the drop in the medal. There are now more than 406,000 holders, compared to 392,650 last month. This may indicate a potential accumulation.