In a recent analysis of PEPE's market activity, Crypto Man MAB reported that the token is currently priced at $0.00001115, reflecting a short-term increase of 2.67%. While this price rise may provide some optimism for bullish investors, MAB cautioned that the 4-hour chart indicates an overall downward trend.
MAB also highlighted that PEPE's 24-hour trading volume has reached 12.97 trillion tokens, equivalent to approximately $143.83 million. He characterized this trading activity as moderate, suggesting that while market engagement is present, it lacks the robust energy typically associated with strong bullish movements.
Further analysis revealed fluctuations in the Volume Simple Moving Average (SMA), which have shown several significant spikes. These surges in volume indicate temporary increases in trader interest, likely driven by brief price movements or speculative actions. Nonetheless, the overarching volume trend remains consistent with the overall decline in price, reflecting a cautious market where traders are awaiting clearer signals before making substantial commitments.
Price trends over the past week indicate a decrease of 2.79% for PEPE, with a more pronounced decline of 15.9% observed over the past month. Despite intermittent recoveries, the ongoing downward pressure suggests a market that is struggling to gain upward momentum and escape bearish sentiment.
On a broader scale, the situation appears even more troubling, as PEPE has experienced a significant drop of 54.12% over the last 180 days, presenting a challenging scenario for long-term holders. However, MAB did note a modest annual gain of 2.67%, which, while slight, offers a hint of resilience.
In terms of technical analysis, MAB identified a recent low around $0.00001069 as a potential short-term support area, which may provide a buffer if prices begin to decline again. This level represents where buying interest has previously emerged, making it an important point to monitor.
On the upside, the resistance level at $0.00001133 is significant, as it is where sellers have previously limited price increases. Should PEPE break above this threshold with substantial volume, it could pave the way for further upward momentum.
In conclusion, Crypto Man MAB indicated that the current chart reflects volatility with a bearish inclination in the short term. Nevertheless, he emphasized that the recent slight uptick in price, along with increased trading volume, may signal the potential for a reversal if momentum continues to build.
