A notable reduction in PEPE coins available on cryptocurrency exchanges suggests a growing expectation of a value surge among holders. In a single day, PEPE’s presence on trading platforms diminished, pointing to an accumulation phase and a potential future price hike. Despite registering a significant 442.77% growth this year, the meme coin is encountering difficulties in consistently breaching and holding above the $0.0000080 level.
Exchange Supply Constriction Indicates Investor Confidence
PEPE’s circulating supply on exchanges saw a considerable contraction between March 25 and March 26, with a shift from 180.7 trillion to 178.7 trillion. Such a substantial decrease implies a dwindling supply for potential trades. With the basic economic principle of supply and demand, this shrinkage could exert upward price pressures, especially if demand persists or intensifies.
Accumulation Signaled by Rising Average Coin Age
The Average Coin Age for PEPE has been on an upward trajectory since early March, signaling a trend of holders preferring to retain their coins, indicative of a broader accumulation phase. A rise in this metric typically reflects a bullish outlook, as it suggests a reduction in selling pressure that could facilitate price growth. The consistency of this trend over the past days may hint at a looming consolidation period, which is often a precursor to significant price movements.
The prospect of PEPE surpassing the $0.000011 mark remains in question after its all-time high of $0.0000106 on March 14. Although it currently struggles to maintain higher levels, the alignment of Exponential Moving Averages (EMAs) suggests a potential period of price stabilization. Short-term EMA lines hovering above longer-term ones could signal a positive outlook to investors, indicating a possible consolidation phase ahead.
In summary, the reduced supply of PEPE on exchanges combined with a growing Average Coin Age and the EMA trends could signal that PEPE is poised for a price movement. Investors closely monitor these indicators, seeking to capitalize on what may be a strategic positioning for PEPE’s next significant price trend.