The Pepe price is down almost 7% in the last 24 hours to sell for $0.00000118 as of 1:25 AM EST. Trading volume has also dwindled 15%, possibly as investors shift to passive investing, with TGC presenting as the go-to place for forward-looking investors.
It is also likely that investors are shifting attention to Bitcoin (BTC) with traders’ eyes focused on the US Securities and Exchange Commission (SEC). This is because Friday, November 17 marks the close of eight-day that the window that the financial regulator had to approve the spot Bitcoin exchange-traded funds (ETFs), failure to which the market would default to a January 10, 2024 hard deadline.
— Bitcoin Magazine (@BitcoinMagazine) November 8, 2023
Nevertheless, the Pepe coin team is active in developments, with developers pushing to secure the project’s space in the agile and dynamic meme coin space.
$PEPECOIN Devs: “We must exceed expectations.”
— Pepecoin (@pepecoins) November 10, 2023
Pepe Price Outlook After 7% Plunge
After a steady downtrend and a consolidation phase, Pepe coin price took to an uptrend. However, the move north was interrupted as selling pressure from the supply barrier extending from $0.00000146 to $0.00000172 capped the upside potential.
However, with the Relative Strength Index (RSI) deviating to the north, momentum is rising. This shows the bulls want another go at the supply barrier. The Awesome Oscillator (AO) remains in the positive territory, showing the bulls still have a presence in the PEPE market.
Increased buying pressure above current levels could see Pepe price rise 25% above current levels, clearing the $0.00000144 resistance level before confronting the supplier congestion zone. To confirm the continuation of the intermediate trend, the price must break and close above the midline of the supply barrier.
Such a move would clear the path for Pepe coin price to target equal highs at $0.00000189. In a highly bullish case, the gains could extend past the $0.00000200 psychological levels to tag $0.00000250 in highly ambitious cases.
On the flip side, another rejection from the supply barrier could send Pepe coin price south, this time likely testing the $0.00000100 psychological level. In the dire case, the slump could plunge PEPE into the consolidation phase extending from $0.00000061 to $0.00000085.
Meanwhile, the red histogram bars show the bears are also in play, with the reducing volumes of these bars showing this cohort of traders is giving a hard pull. If the bulls give way, the bears could easily take control, solidifying the downtrend for PEPE.
Pepe On-Chain Metrics Supporting Bullish Outlook
According to on-chain aggregator IntoTheBlock’s In/Out of the Money Around Price (IOMAP), Pepe has more robust support downward. As shown in the image below, any efforts by the bears to send Pepe price down would be countered by buying pressure from approximately 6,620 addresses that hold approximately 110.38 trillion PEPE tokens at an average price of $0.000001.
The data also shows that at the current price, 57.81% of PEPE holders are sitting unrealized profit (in the money). This is against the 29.72% that is sitting on unrealized losses (out of the money), while only 12.47% are breaking even (at the money).
As long as more are in profit, the likelihood of them booking profits is also high, which could impact some selling pressure against Pepe price.
Meanwhile, traders are turning to TGC, a Telegram Casino project offering the crypto community an entrance into an exclusive online, anonymous crypto gambling venue. The project has just transitioned to the next stage of the presale, delivering yet another price hike for the token at $0.16.
Each $TGC token is now valued at $0.16.
So if you bought early, your tokens are now worth more🎉
Let’s go players! pic.twitter.com/zZnELxDWfl
— TG Casino (@TGCasino_) November 17, 2023
Promising Alternative To PEPE
TGC is the powering token for the TG.Casino ecosystem, is a project that presents a great opportunity for gambling enthusiasts. The token will never be this affordable, meaning now is the best time to buy TGC.
Why I think the launch of @TGCasino_ presents a great opportunity, and how you can take advantage. 🧵👇
(Disclaimer: No one is paying me to post this) pic.twitter.com/l8agDgAq4L
— Unknown (@LXV4591) November 17, 2023
Analysts reviews say TGC could be the next 100X crypto gem, with many traders, including YouTubers like HotCuppaCrypto and No BS injecting huge loads of capital into the TGC market. Interestingly, there is also a new way to get in on the action via a mobile app, to participate in one of the best gambling platforms you can consider as a player.
Visit TG.Casino website to buy TGC in the presale here.
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