Pepe Coin Shows Bullish signs as Investors move Tokens Off Exchanges
Pepe coin (PEPE) maintained its price on Monday, wiht a noticeable increase in tokens moving from exchanges to personal wallets. This shift suggests investors are holding onto their coins rather than selling.
Pepeās price climbed to $0.000070, marking a 35% rise from its lowest point this year. Its market cap now stands at $2.9 billion. Data from Nansen reveals that tokens held on exchanges have decreased by 1.21% to 240.15 trillion.
Exchange outflows are typically a good sign. They indicate that investors are confident in the coinās future. During a market downturn, outflows usually slow as investors sell off their holdings.
Technical analysis points to a potential price surge for pepe.The four-hour chart shows a small inverse head and shoulders pattern. If the price breaks above the neckline at $0.000007415, it could reach $0.000008915.
- Pepe has formed a double-bottom pattern at $0.00005920.
- The Relative Strength Index and MACD show a bullish divergence.
- A falling wedge pattern suggests a possible bullish breakout.
These patterns indicate that Pepe could soon see a price increase. The initial target is $0.000010, with a potential push to $0.00001457. However, a drop below $0.0000053 would negate the bullish outlook.
