SNEAK PEEK
- Big Brother invests 66B $PEPE, signals confidence in investment strategy.
- PEPE disrupts the NFT market and collaborates with OpenSea Pro for trading.
- The bullish trend is weak on the PEPE market, caution is advised for long positions.
Big Brother’s recent acquisition of 6B $PEPE expands his already sizable collection of virtual money. He invested 66B $PEPE for three days, using 73.4 $ETH ($137K). With an average buying price of $0.000002082, Big Brother appears confident in his investment strategy despite the quick accumulation.
Machi Big Brother bought 6B $PEPE again 30 mins ago.
He has bought a total of 66B $PEPE with 73.4 $ETH ($137K) in the past 3 days, with an average buying price of $0.000002082.https://t.co/8TP6j6unZw pic.twitter.com/Ubmg3ZC1rm
— Lookonchain (@lookonchain) May 10, 2023
This can be attributed to the $PEPE project upending the NFT market. The project has now significantly advanced for its community by collaborating with OpenSea Pro to enable users to buy or sell NFTs for PEPE coins.
NFTs are dead? Wait until frogs learn how to collect NFTs with $PEPE. Check it out on OpenSea Pro! ? pic.twitter.com/8eSwZOOYCZ
— OpenSea Pro (@openseapro) May 9, 2023
However, despite bears’ attempt to control the PEPE market at an intraday low of 0.000001779 in the past 24 hours, bulls regained strength and drove prices to an intraday high of 0.00002103. As of press time, PEPE was trading at 0.000001922, a 0.07% increase from its previous close.
PEPE’s market capitalization increased by 0.04% to $753,107,085, while the 24-hour trading volume decreased by 51.86% to $552,634,582. The sharp decline in trading volume could be attributed to decreased investor confidence and profit-taking in the PEPE market.
The bullish trend is relatively weak, with a Balance of Power value of 0.17 on the PEPE market’s price chart. This motion indicates that although buying pressure exists in the market, it cannot raise prices significantly. Therefore, traders should exercise caution when taking long positions and consider putting stop-loss orders in place to reduce possible losses.
On the 2-hour price chart of the PEPE market, the Chaikin Money Flow (CMF) indicator, which has a value of 0.06 and a line facing North, indicates that the market is bullish. This shows that PEPE is in high demand, and buyers are willing to pay higher prices. Therefore, with the expectation that its value will increase, traders might consider purchasing PEPE at its current price.
The Bollinger Bands on the PEPE market’s 2-hour price chart show upper and lower band readings of 0.00000210 and 0.00000178, respectively, indicating some volatility in the market. This move shows that there is the potential for quick profits for traders who are looking to profit from this volatility by taking short-term positions.
On the PEPE’s 2-hour price chart, the Chande Momentum Oscillator (ChandeMo), which has a value of 29.41 and points North, indicates an upward momentum in the market. This demonstrates that prices will probably continue to rise in the near future.
In conclusion, the PEPE market shows bullishness, with an upward momentum and indicators signalling potential gains. Traders should take advantage of the volatility and make well-informed decisions for profit.
Disclaimer: Cryptocurrency price is highly speculative and volatile and should not be considered financial advice. Past and current performance is not indicative of future results. Always research and consult with a financial advisor before making investment decisions.
