Benzinga - 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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