sUSDS (susds) 
Pepe Coin Price Analysis: Is a Rebound on the Horizon?
The price of Pepe Coin has been moving sideways this month, with signs suggesting it may be nearing a bottom. As supply on exchanges decreases and whale accumulation intensifies, analysts are keeping a close watch on this cryptocurrency.
Current Pepe Coin Price and On-Chain Metrics
As of Sunday, Pepe Coin was trading at $0.0000075, slightly above its year-to-date low of $0.000005860. On-chain metrics hint at potential upward movement for the token in the coming weeks.
One key indicator to note is the 365-day Mean Dollar Invested Age (MDIA), which has surged to 128, up significantly from its November low of 35. MDIA tracks the average purchase price of tokens held in current addresses. When the MDIA rises, it signals that holders are refraining from selling their tokens, reflecting confidence in the coin’s future potential.
Supply on Exchanges: A Positive Trend
Another metric worth highlighting is the declining supply of Pepe tokens on exchanges. Supply on exchanges as a percentage of the total supply has dropped to 26.6%, down from 45% in November of last year. This trend indicates that investors are increasingly moving their tokens to self-custody wallets rather than preparing to sell.
Historically, a falling supply on exchanges has been a positive catalyst for cryptocurrency prices, as it reduces the selling pressure. It’s worth noting that this decrease in exchange supply is occurring while the token remains in a downward trend—a potentially significant signal for investors.
Whale Accumulation: Growing Confidence
Further data reveals that whales are actively accumulating Pepe Coin. Top addresses now hold 172 trillion tokens, a marked increase from 131 trillion tokens. This accumulation by large investors could further bolster confidence in Pepe’s price performance, as whales often influence market trends.
Technical Analysis: Signs of a Bounce
From a technical perspective, the daily chart shows that Pepe Coin has formed a strong support level around $0.000005860. This level has acted as a bottom several times since August of last year, and the token has established a small double-bottom pattern.
Additionally, Pepe has formed a falling wedge pattern, characterized by descending and converging trendlines, which is often considered a bullish reversal signal. Oscillators, such as the MACD and Awesome Oscillator, are also showing bullish divergence, further supporting the likelihood of an upward price movement.
Based on these indicators, Pepe Coin could see a rebound, with bulls potentially targeting the psychological resistance level of $0.000010. This represents a potential upside of approximately 35% from the current price.
Final Thoughts
While Pepe Coin has faced challenges, its on-chain metrics and technical indicators suggest a positive outlook. Declining supply on exchanges, increasing whale accumulation, and bullish chart patterns all point to a possible price recovery. Investors should continue monitoring these trends as the cryptocurrency market evolves.
