PEPE rallied by 60% over a 60-day time frame, but failed to hold its ground and has bounced back with losses of 11.19% on its latest trading day. The number of trades fell by 41.93% to around
PEPE price decline has gathered pace, with successive intraday sell-offs erasing rebounds and leaving the token near its session low.
Whale Alert Desk previously described PEPE's 60-day rally and retracement toward its all-time-high zone. The post indicated that the repulsion may provide the chance to enter with fresh investors. The newest chart from CoinMarketCap is quite different though.
Source: X
The PEPE price started at almost $0.000004997 at the beginning of the displayed period. It started off in a tight range but eventually sellers took control of it. By November 12, the token had fallen to $0.000004391.
The losses were more than 11.19% in a 24-hour period with a downward trend prevailing on chart. There were a few bounces up and down during the session, but that wasn't enough. Sellers hammered the price down once again from the prior intraday price.
The greatest drop seemed to be around 00:00 on November 12. PEPE slipped from approximately $0.000004800 toward the $0.000004700 region. The token continued to fall further as it was sold more.
PEPE's price dipped slightly after the rise to $0.000004750. This set in a trend that soon faded when sellers began to return to the market. The price then moved to the $0.000004600 level.
The third part of the graph is a horizontal section indicating sideways movement. PEPE held at 0.000004550 – 0.000004600 without forming an upward trend. Then another downward move occurred, which broke below that range.
In the afternoon, the token came close to the price of $0.000004400. There were some modest upward rejections during the downtrend, but limited buying. The new reading put PEPE near the bottom of the chart.
The trading volume was around $548 million within the last 24 hours. This is a decrease of 41.93 percent from the previous period. This decrease followed the decline in price and failed recovery attempts.
The market capitalization of PEPE was around $1.81 billion during the mentioned session. It is also valued at almost $1.81 billion when fully diluted. The current and maximum supply were indicated as 413.77 trillion tokens.
The platform claimed to have listed around 596,920 PEPE address holders. This number provides an insight into the distribution of tokens on recorded wallets. Fails to indicate the change in balance.
The new chart reveals that the trading range of the token is close to $0.000004400 now. If it breaks above recent daily chart highs, then it will be ending the downtrend. However, if PEPE keeps on selling, it may ultimately end up losing even more.
In the previous all-time-high zone, a recovery was described in the previous post by Whale Alert Desk. That's after a reported 60-day rally that saw a retracement. But the new chart is showing a soft pivot and not more gains.
The next step for PEPE will depend on whether the demand returns from the buyers. When the token is re-down, it can break down from its previous trading range. Sellers have yet to lose control and recovery efforts have been unsuccessful.
