PEPE’s price increased by more than 10% in the last 24 hours, along with a marginal increase in trading volume, which was a bullish signal.
Though the sell-off seemed bearish, a price decline in the short term was not likely. A look at’s 4-hour chart revealed quite a few bullish metrics. For example, the meme coin’s Relative Strength Index registered an uptick, as did its Chaikin Money Flow .
Additionally, the MACD displayed a bullish crossover. Nonetheless, the Exponential Moving Average Ribbon was bearish, which could be a cause for concern.PEPE’s supply distribution also looked bullish, as it suggested that the coin was under buying pressure. As per Santiment’s chart, the meme coin’s supply held by top addresses registered an uptick over the last week, indicating that the top players were actually buying the token.
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