PEPE Price Records New All-Time High Amid Threat Of Profit-Taking

PEPE has maintained strong bullish momentum, recently forming a new all-time high (ATH) of $0.00002754. The altcoin’s price action has stayed close to its ATH, supported by investor optimism. 

Sideways movement over the past weeks reflects resilience, even as profit-taking opportunities emerge, making PEPE a focal point in the crypto market.

PEPE Forms New High

Investor sentiment around PEPE is leaning toward profit booking, with approximately 38% of active addresses currently in profit. This trend often signals the potential for sell pressure as investors look to capitalize on their gains. With PEPE reaching a new ATH, this sentiment becomes even more pronounced as holders seek to lock in profits.

Despite this, the broader market enthusiasm has kept PEPE’s momentum alive. However, sustained profit-taking could temper its bullish trajectory. Investors should remain vigilant, as an increase in sell-offs could lead to a cooling phase, even though the underlying sentiment remains optimistic.

PEPE Active Addresses by Profitability. Source: IntoTheBlock

On the macro front, PEPE’s technical indicators highlight strong inflows, as evidenced by the Chaikin Money Flow (CMF) spiking over the past week. After nearly three weeks of muted activity, the CMF is now above the neutral line, suggesting increased buying interest. This uptick in inflows has contributed to PEPE’s ability to maintain its upward trajectory.

The current position of the CMF indicates that investors are showing renewed confidence in PEPE. Sustained inflows could provide the necessary push for the altcoin to continue climbing, reinforcing its position in the market. A continued positive trend in the CMF could act as a catalyst for further price gains.

PEPE CMF. Source: TradingView

PEPE Price Prediction: Continuing the Rise

PEPE’s price recently reached $0.00002754, marking a new ATH while maintaining its bullish momentum. The altcoin is expected to hold above the critical support level of $0.00002334, even if the market experiences a slight pullback. This support provides a foundation for potential upward movements in the near term.

The aforementioned factors exhibit mixed signals, but maintaining the $0.00002334 level could enable PEPE to push past its ATH, continuing its uptrend and attracting more investor interest. A breakout above the current high would reaffirm the bullish sentiment, paving the way for additional gains.

PEPE Price Analysis. Source: TradingView

However, if the PEPE price fails to hold the $0.00002334 support level, the altcoin could slip toward $0.00001793. Such a decline would invalidate its bullish momentum, forcing investors to reassess the potential for further price recovery.

The post PEPE Price Records New All-Time High Amid Threat Of Profit-Taking appeared first on BeInCrypto.