Cryptocurrency pepe inspired by meme fell almost 5% in the last 24 -hour period under a wave of liquidations and commercial activity of record establishment.
The Token fell from $ 0.000012023 to $ 0.00001119, since Bears overwhelmed recovery attempts. At one time, the negotiation volume increased to 6.91 billion tokens in one hour, establishing a roof about $ 0.000011692, according to the technical analysis data model of Coindesk Research.
The sales pressure was not isolated. The negotiation of the late session saw a greater rejection of $ 0.000011549, while the volumes increased more than 85 billion tokens, which forced the price to a minimum of session.
Even when Pepe approached what seemed support at $ 0.000011525, the lack of significant purchase activity stressed the market reluctance. That level could not attract enough interest to reverse the course, the possible signage decreases even more.
The memecoin has had a lower performance of the wider cryptocurrency market, measured by the Coindesk 20 (CD20) index, which fell 1.35% in the last 24 hours. The Memecoin sector, based on the Coendesk memecity index (CDMEME), fell 6%.
The market reaction shows how volatile the memecoras remain, especially when the great headlines decide to leave. Nansen’s data show that during the past week the holdings of whales fell by 0.1%, while Pepe in exchanges fell by 0.5%.
The graphics show a lower maximum pattern and a heavier sale, a combination that generally explains more pain ahead.
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