PEPE Coin: Trading Volume Drops, What Will the Price of PEPE Be in the Future?

Bittime - Pepe Coin's price currently remains depressed despite sentiment in the crypto market showing improvement, with Bitcoin hovering above $100,000. 

The token's momentum has been waning, and recent data shows that its trading volume and social dominance are on the decline. With these conditions, many are wondering how all these fundamentals will affect the price of Pepe Coin in the future.

Pepe Coin's daily volume has seen a significant decline, with data from CoinGecko showing that daily volume fell to $1.4 billion on Tuesday, from more than $18 billion in November. 

This decline represents the lowest level in more than two months. Additionally, despite the recent increase in social dominance, data from LunarCrash shows that public interest in Pepe Coin is still well below last year's highs. This decline could be a signal that interest in this digital asset is starting to decline.

Also read: Selling Action by PEPE Holders, Will PEPE Prices Fall?

Impact of Decreasing Volume and Social Dominance

In theory, a sharp decline in volume and social dominance should be considered a bearish signal, indicating that investor interest is declining. However, in practice, these large drops could be a sign of accumulation by large investors who see long-term potential. 

When trading volume decreases, it often indicates that larger investors are buying large amounts, which can create a strong foundation for future price increases.

Pepe Coin's daily chart shows mixed signals. On the one hand, the token remains stable above its 50-day and 100-day moving averages, and has formed a break and retest pattern by dropping to key support at $0.00001751. A retest of this level is often seen as a sign of continuation in the market, providing hope for investors.

Source Bittime.com

Chart Patterns and Price Outlook

However, on the other hand, the price of Pepe Coin has slowly formed a rising wedge chart pattern since December 20. This pattern consists of two converging trendlines pointing upwards, and often leads to a bearish breakout as they approach their confluence point. 

Additionally, it is possible that Pepe Coin is forming a head and shoulders pattern, with the head at $0.0000283 and the right shoulder at $0.000025. This pattern is also often considered a bearish signal.

Also read: PEPE Price Prediction 2025: Can It Break New ATH?

Pepe Coin Price Target

With all these factors, Pepe Coin could be moving in either direction at the moment. The most likely scenario is that the rising wedge will work and the token will fall to support at $0.00001715. 

However, if the token manages to break above the right shoulder at $0.000026, this will invalidate the head and shoulders pattern and indicate potential long-term price upside.

Thus, it is important for investors to monitor Pepe Coin price developments and the chart patterns that form. 

Understanding market dynamics and price behavior can help you make better investment decisions. If you believe in the long-term potential of Pepe Coin, now may be a good time to consider a position in this digital asset.

FAQ 

Why is the price of Pepe Coin falling now?

The price of Pepe Coin fell due to a decline in trading volume and social dominance, indicating that investor interest in this digital asset is starting to decline despite overall improving crypto market sentiment.

What influences the price of Pepe Coin?

The price of Pepe Coin is influenced by various factors, including trading volume, holder behavior, and chart patterns that form. A decrease in volume can be a signal that interest in this coin is waning.

Is there a potential for Pepe Coin price increases in the future?

Although the price of Pepe Coin is currently experiencing a decline, if the token manages to break through the resistance level at $0.000026, this could indicate potential price increases in the long term. However, it is important to monitor market developments and the chart patterns that form.

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Reference

coingape.com, Pepe Coin Volume & Social Dominance Drop: What This Means for PEPE Price, accessed January 8, 2025.

Author: AWW