Crypto Analyst Identifies 'Strong Demand Area' For Pepe Coin: Key Levels To Watch Out For

Benzinga · 05/11/2023 11:19

A pseudonymous analyst said that the current price level for Pepe Coin (CRYPTO: PEPE) is a “strong demand area."

What Happened: Rekt Capital in a YouTube video told his subscribers that "Pepe looks interesting."

The chart plotted by the analyst shows PEPE ranging between $0.0000026 to $0.0000034. "This is a key level. In my opinion, this is like a strong demand area."

He also identified the next major liquidity area as being at $0.0000010.

Rekt Capital noted that there is a lot of volume being transacted around that area, making it an important level to watch.

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Why It Matters: However, he also emphasized that any investment decision in PEPE Coin, or any other cryptocurrency for that matter, is heavily dependent on the movements of Bitcoin (CRYPTO: BTC).

Rekt Capital included a disclaimer that he already held a bag of PEPE and was looking to sell more on the next price pump. But for those looking for a short-term target, he suggested a $0.0000028 level or potentially higher.

Price Action: At the time of writing, PEPE was trading at  $0.000001656, down 14% in the last 24 hours, according to Benzinga Pro.

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