- Smart DEX traders back to accumulating Pepe.
- Pepe’s breakout as global in/out of the money suggested most holders were profitable.
As a seasoned analyst with years of experience in the cryptocurrency market, I find the recent trend in Pepe (PEPE) particularly intriguing. The smart DEX traders’ sudden accumulation of PEPE is reminiscent of a flock of birds sensing a change in the wind, a phenomenon I’ve seen many times before in my career.
Pepe [PEPE] has been one of the memecoins to watch as the altseason comes closer.
A study on Decentralized Exchange (DEX) holdings of Pepe token showed varying purchase and sale volumes throughout, with particular emphasis on a notable surge in buying actions by intelligent DEX traders in the latest period.
Their investments grew noticeably, as indicated by the green bars in early November. This coincides with an uptick in the typical purchase price, hinting at optimistic market trends.
The behavior led to a 48% price increase in the past 7 days as per CoinMarketCap.
At the same time, the PEPE/WETH market trends showed a decrease since May, yet it recently broke free from a symmetrical triangle following increased trading volumes and price surges.
This spike suggests a revived curiosity among traders, potentially sparked by the amassing observed in the analysis chart of decentralized exchanges (DEX).
From the coordinated patterns observed across both graphs, it appears that astute traders utilizing Smart DEX have been tactically amassing PEPE tokens, likely in expectation of a price surge ahead.
As a crypto investor, I’ve noticed some intriguing dynamics that suggest PEPE could reach new heights. The significant buying activity recently and the potential for sustained demand from well-informed traders are factors contributing to this optimistic outlook.
Volume weighted average price signals clear breakout
Pepe demonstrated a strong surge past the significant resistance level marked by the Anchored Volume Weighted Average Price (VWAP), which had been holding firm since May. This breakout suggests that the peak levels reached before May have now been surpassed.
This development suggested an uptrend with the price recently crossing into more bullish territory.
A persistent blockade at the Volume Weighted Average Price (VWAP) followed by a burst through it indicates significant buyer demand, potentially leading to prolonged bullish movement.
PEPE’s successful breach of a historically challenging resistance point strengthens the belief that dips could present promising buying chances, indicating a generally positive outlook among market participants.
Investors concentrating on accurate entry points might find themselves advantageously placed for potential profits, potentially multiplying their current investments by three to five times.
A strong tendency for development seems more likely if the current pace continues, indicating a positive outlook for the short-term period ahead.
Pepe’s global in/out of money
Examining the “Worldwide ‘In-the-Money’ or ‘Out-of-the-Money’ Situation” for Pepe offered an insightful viewpoint on price fluctuations.
In simple terms, about three-quarters (77.87%) or around 97.48 million individuals who own Pepe currently have a profit because the value of their holdings exceeds the original price they paid for it.
This scenario indicated the floor for PEPE if similar sentiment and distribution patterns hold.
Approximately 17.55% (equivalent to 21.98 million) of these addresses currently hold tokens that are below their initial investment price, indicating reduced likelihood for immediate selling due to the need to recoup costs or offset losses.
Approximately 5.73 million ‘at-the-money’ addresses exist, which is a smaller number and implies that not many addresses are close to achieving profitability. If PEPE exhibits similar characteristics, the high proportion of ‘in-the-money’ holders might be an indication of a positive or bullish trend in the future.
Realistic or not, here’s PEPE market cap in BTC’s terms
In this situation, it appears that the price of PEPE may keep increasing due to positive expectations among its successful investors.
High profits among owners deter quick selling, thereby fostering price consistency as confidence persists at a high level.
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2024-11-11 19:36