Pepe on $solana – Analysis and Predictions

Pepe on $solana

Pepe on $solana

$Pepe on $Solana was launched on 25th may 2024. A year before, $pepe on $eth made huge impact on the space by making it the biggest meme on crypto space. With almost reaching

comparison of NFT total market vs pepe on eth market size
Pepe on Eth technical details
The Pepe on ETH rose over a 6 billion dollar market cap after a year. Both projects had a catalyst known as Pauly0x. A few days back Pepe was reintroduced by
@Pauly0x
and
@pepesolanacomm
and it successfully went over 80 million market cap making it the most attractive project on $solana.

As of today, we have experienced a retrace on the chart of 50 million dollar floor.

Whats special about pepe on solana?

Pepe on $solana has everything that is required in a big project. Whales, trusteworthy community and good price action. Even after retrace, it held the floor at 50 millions which is a great entry price as of May 29, 2024. Total circulation of this pepe is around a billion tokens with great transparency by the team which is missing in Pepe on Eth.

LIVE CRYPTO RATES FOR TODAY

Name Price24H (%)
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$69,272.55
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Ethereum(ETH)
$3,619.62
2.61%
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$0.490696
1.71%
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$0.436213
2.38%
Bitcoin Cash(BCH)
$459.67
3.62%
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$78.25
0.75%
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$175.92
0.31%
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$0.206493
4.45%
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$0.037671
-3.83%
Dash(DASH)
$26.48
3.33%
Pepe on $solana

Pepe on $solana

The Dev tokens were sent to Pauly who managed the project as a lead.
Price action till now
The impressive price movement is worth a talk in the town. Many people still don’t know the potential of this coin but we have seen bullish trend over past five days or so.

Price action from 25th of may to 27th of may:
Making a beautiful rising wedge pattern between 25th to 27th of may, the project got many retail holders, diamond hands and whales to make the investment in this project healthy.

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The bullish trend continued making a all time high 80 million dollars market cap. Then we saw a consolidation phase with a high volume (at the bottom of the chart)

The volume of buy and sell is an indicator of rising interest by investors. Currently, the project has accumulated 15000+ holders.

Wallet Tracker Total Wallets: With 15,002 wallets holding PEPE/SOL, this suggests a certain level of adoption and distribution among investors. A growing number of wallets can signal increasing interest and potential upward price pressure.


Pepe on $solana

Pepe on $solana

DEX Price and Market Cap

The current DEX price of $0.05125 and a market cap of $51,225,873 reflect the current valuation of PEPE/SOL. A rising market cap, assuming the circulating supply remains constant, typically indicates a positive trend in price.

24hr Transactions: The 42,364 transactions in the last 24 hours show active trading, which can contribute to liquidity and price discovery.

Total DEX Transactions: A high number of total transactions, 480,483 in this case, demonstrates the currency pair’s trading activity and liquidity over time.
Trading Volume: The last 24-hour DEX trading volume of $20,025,122 and a lifetime volume of $210,544,117 suggest significant trading interest and liquidity, which are vital for sustaining price movements.

This is a positive indicator of a bullish trend after consolidation phase. The combination of these factors can influence the market dynamics of PEPE/SOL by affecting the supply-demand balance. For instance, if the trading volume continues to be high with an increasing number of transactions, it could indicate strong market interest, potentially leading to price appreciation. Conversely, if the circulating supply grows faster than demand, it could lead to price depreciation.

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Chart pattern:

As seen above the current chart pattern is symmetrical triangle. With lower highs and higher lows, making the trading volume equal with 5.7 million buys and 5.8 million sells. This is a continuation pattern which makes supply and demand almost equal, leading to a narrowing of price range. We may see this continuation for another day or two.

Meaning that it’s expected the price will continue in the same direction it was heading before the pattern formed once a breakout occurs. The direction of the breakout, however, is not determined by the pattern itself but by other market factors and subsequent price action. The green arrows on the chart suggest an anticipation of an upward breakout, but it’s important to consider other indicators and market context for a more comprehensive analysis.

To anticipate a breakout above, you would look for:
Increasing Buy Volume: A significant increase in buy volume could indicate gathering momentum for an upward move.
Price Action: A close above the upper trend line of the triangle on increased volume would be a bullish signal.

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Other Indicators:

Confirmatory signals from other technical indicators, such as moving averages or momentum oscillators, could strengthen the case for an upward breakout.
It is important to do a thorough market analysis.
In my opinion this is a potential bullish project that could be bigger than $MAGA or $WIF on solana. This could be the second big pepe project on solana. As it is still a new project we have to see how market plays out on this.

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Updated: May 30, 2024 — 9:13 am

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