PEPE price is at an all-time high: is a correction on the horizon now?

They were coin investors PEPE They are taking advantage of the recent rally as PEPE price ended up hitting a new all-time high (ATH) for about a week.

However, the next ATH might not turn out to be a similar event as the likelihood of a sell-off and major price correction is rather high.

PEPE investors are ready to sell

PEPE price is currently trading at $0.00000919, which has increased by over 10% in the last 24 hours. The meme currency has seen an impressive rise over the past period, increasing by over 585% in two weeks. The coin, inspired by the frog meme, hit an all-time high of $0.00000991 about a week ago, and the coin has been moving sideways since then.

During these price developments, the dynamics of PEPE holders changed dramatically, with most of the supply moving into the hands of short-term traders. Their dominance over circulating supply increased from 8.2% to 22.4%.

This is worrying because these investors tend to hold their assets for less than a month. As PEPE price is about to cross the $0.00001k level, a key psychological level, selling is a very likely move.

Additionally, most of the supply is concentrated among fish, i.e. owners of crypto assets in small quantities. Typically, these investors do not influence the price, but their dominance has increased over the past two weeks. Securities in the $100 to $100,000 PEPE range currently represent approximately 68% of the total circulating supply.

However, the headlines about whales are somewhat dormant at the moment. It does not accumulate strongly and does not sell either.

The combination of these results shows that prices can fluctuate significantly if small, short-term investors choose to sell for a profit. The bullish momentum is already fading and a new all-time high could be the PEPE price.

PEPE Price Forecast: What’s Next After an All-Time High?

If Pepe's price manages to reach $0.00001,000 and profit recognition takes priority, the likely outcome is a price decline. Corrections could see the meme coin drop to $0.00000633, breaching the 50-day EMA.

If this support level is also invalidated, the meme coin could reach a low at $0.00000500, erasing most of the recent gains.

On the other hand, if the selling is minimal after the breakout of $0.00001000 and the frog meme symbol reverses towards a support floor, the bearish thesis will be invalidated. The PEPE could further increase and generate more profits for its investors.