Despite $ETH hitting its local low, the cryptocurrency can easily hit $2,000 again, especially with this chart pattern
An asset without volatility may become less attractive for traders looking to capitalize on price swings. Therefore, the diminishing volatility of SHIB could lead to a potential increase in selling pressure, which is the last thing SHIB needs at this crucial juncture.
The current status of SHIB paints a picture of a token that is losing momentum. Unless the scenario changes - with an influx of positive news or an increase in its adoption - the current anemic state could continue.The meme-based cryptocurrency market has often showcased its unpredictable nature, with sudden price movements keeping investors and traders on their toes. One such crypto asset,, a popular meme token, has been showing signs of a potential upward price trajectory.
This local low coincides with a 50 Exponential Moving Average support level, as well as a support line on the token's local trend. The Exponential Moving Average is a type of weighted moving average that gives more weight to the latest data. In PEPE's case, the token's price has come to rest on this 50 EMA line, suggesting that it could potentially be in for a price boost.Moreover, this is not the first time such a price pattern has been noticed for PEPE.
Of course, any such prediction is contingent on a number of factors, including overall market sentiment, investor interest and the general performance of meme-based cryptocurrencies. With that said, the recent trend and historical data for PEPE give investors some cause for optimism.
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