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Pepe (PEPE), the widely recognized crypto meme coin, is outperforming major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). A key buy signal posted by a prominent crypto expert on X (formerly Twitter) has fueled a surge in investor interest, sending PEPE’s price climbing.
Buy Signal for PEPE
The crypto expert highlighted the appearance of a buy signal for PEPE, driven by a technical indicator known as the TD Sequential. This signal, applied to the 3-day chart, suggested a potential price rebound. The expert’s post gained traction within the crypto community, sparking a wave of activity around the meme coin. According to on-chain analytics firm CoinGlass, long-term holders have been accumulating PEPE, with significant inflows reflecting renewed confidence.
The TD Sequential indicator presents a buy signal on the $PEPE 3-day chart, anticipating a price rebound! pic.twitter.com/PmISW9L6iG
— Ali (@ali_charts) January 31, 2025
$9 Million PEPE Outflow: Signs of Accumulation?
Data from spot inflows and outflows further supports the narrative of accumulation. A notable $9 million worth of PEPE has exited exchanges, a sign that long-term holders are buying into the meme coin. This accumulation could exert buying pressure and fuel a potential rally, particularly given PEPE’s recent performance.
PEPE’s price recently reached $0.00001387, experiencing a significant 8.15% increase within 24 hours. The trading volume also surged by 90%, indicating heightened participation from both traders and investors in comparison to previous days.
Major Liquidation Areas for PEPE
Examining on-chain data reveals that the bullish momentum surrounding PEPE is strong. One major liquidation area lies near the price of $0.00001359, where over-leveraged long positions totaling $2.5 million are at risk. If the price reaches $0.00001405, short positions worth $1 million could also face liquidation.
Also Read: Pepe Coin Price Crash: Indicators Signal Potential 122% Rebound as Whale Accumulation Rises
With the bulls in control, the $0.00001405 resistance level appears poised for a potential breach, signaling the possibility of further upside movement for PEPE in the near future. As the meme coin continues to capture attention, investors are keeping a close eye on these key levels.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
A lifelong learner with a thirst for knowledge, I am constantly seeking to understand the intricacies of the crypto world. Through my writing, I aim to share my insights and perspectives on the latest developments in the industry. I believe that crypto has the potential to create a more inclusive and equitable financial system, and I am committed to using my writing to promote its positive impact on the world.
