Pepe (PEPE) token is currently facing volatility amidst concerns that its social media platform X account has been compromised. Investors are advised to steer clear of any interactions with that account until further notice. The token’s price has been experiencing fluctuations, following the overall trend in the market. Traders are closely monitoring key support and resistance levels to gauge the next potential moves for PEPE.
The latest price for PEPE is at $0.00006755, reflecting a 5.86% decrease over the past 24 hours. The token’s market capitalization is at $2.84 billion, with a 24-hour trading volume of $546.64 million, which has seen a slight increase of 1.46%. The price trajectory has been downward, characterized by lower highs and lows, although there have been brief rebounds indicating attempts to stabilize.
Support levels to watch for PEPE include $0.000066 and $0.0000645, where buyers have previously intervened. On the flip side, resistance is anticipated around $0.000071, with stronger resistance at $0.000074. Breaking above these resistance levels could potentially signal a shift in momentum favoring the bulls.
The Relative Strength Index (RSI) currently stands at 33.39, nearing oversold territory. A drop below 30 could indicate a potential reversal or a period of consolidation. The Moving Average Convergence Divergence (MACD) shows negative signals, confirming the prevailing bearish momentum. The derivatives market for PEPE has witnessed increased activity, with trading volume up by 14.08% to $403.72 million and open interest rising by 2.95% to $201.03 million, indicating heightened participation in contracts.
In conclusion, the uncertain situation surrounding PEPE’s X account compromise has added to the token’s volatility. Traders are advised to exercise caution and closely monitor key levels for potential trading opportunities. The market dynamics continue to evolve, and staying informed is crucial for making informed decisions. As always, it is essential to conduct thorough research and consider the risks involved before engaging in any financial transactions related to PEPE or any other digital assets.