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PEPE Price Enters Oversold Levels On Daily Timeframe, Here’s What Happened The Last Two Times

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The recent downturn that has swept across the entire crypto market has pushed meme coin PEPE into oversold territory, according to the Relative Strength Index indicator. Notably, this is only the third time PEPE has reached the oversold levels in its history, particularly on the daily candlestick timeframe. 

Historical data shows that in the previous two instances, PEPE’s price movement followed a specific pattern, leading to a strong recovery after a period of consolidation. As such, the recent PEPE price crash might be the first step before an incoming bull price action.

PEPE Oversold Condition Is A Rare Market Event: What Happened The Last Two Times?

PEPE hasn’t had much history to go by, as it is one of the youngest meme coins with a large market cap. However, over the past year and a half since its launch, PEPE has rarely dipped into oversold territory on the Relative Strength Index (RSI). This makes its current oversold status a significant event in technical analysis, as it has only happened twice before. An oversold condition is when the selling pressure on a crypto becomes too much in a short period, which causes the RSI indicator to fall below 30.

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In both previous instances where PEPE became oversold, the price entered a consolidation phase lasting approximately one month before rebounding with a strong uptrend. This pattern is evident in a PEPE daily candlestick chart shared on social media platform X by crypto analyst Obi (@obi_eths), which illustrated the meme coin’s historical response to oversold conditions.

PEPE
BTC’s consolidation phase | Source: Obi on X

As shown by the chart below, the first time the meme coin became oversold was in September 2023, four months after its launch. Notably, the oversold condition was followed by 31 days of consolidation before PEPE eventually shot up to new all-time highs in the weeks after. 

A similar trend occurred in August 2024, when PEPE entered into an oversold condition for the second time. This was followed by another 31 days of consolidation up until September 6, when another uptrend began.

Accumulation Phase? What To Expect Next

With PEPE now entering another oversold condition, historical patterns suggest that the meme coin could remain in a consolidation phase for at least the next month. If past trends repeat, this period could serve as an accumulation window for investors who are willing to exercise patience and position themselves ahead of a potential rally.

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The timeline for this anticipated surge should begin on March 10, which is exactly 31 days after PEPE entered the recent oversold condition. From here, the meme coin could attempt to mirror its past rebounds by staging an extended move that could push its price beyond its current all-time high of $0.00002803, which was recorded on December 9, 2024. 

At the time of writing, PEPE is trading at $0.000009544, 65.8% below this all-time high.

PEPE
PEPE trading at $0.0000095 on the 1D chart | Source: PEPEUSDT on Tradingview.com

Featured image from Shutterstock, chart from Tradingview.com



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Bitcoin ETF Issuers Purchase Over $40 Million in BTC

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As the Bitcoin ETF market is seeing inflows again, the issuers are purchasing BTC in huge volumes. Fidelity and ARK Invest, two of the leading issuers, acquired more than $40 million in Bitcoin since yesterday.

Rumors also suggested that BlackRock, the largest ETF issuer, made similar purchases, yet these remain unverified. Overall, the fresh acquisitions from asset managers could contribute to a much-needed bullish narrative for the market.

Will Bitcoin ETFs Influence a New Bullish Cycle?

After weeks of consistent ETF outflows, the market is starting to pick up again. On Monday, US spot Bitcoin ETFs saw $274 million in net inflow—the largest daily inflow since February 28.

Meanwhile, blockchain analytics platform Arkham claimed that BlackRock is also making large BTC purchases.

“ARKHAM ALERT: BlackRock is buying $40 Million BTC. BlackRock is buying. Fidelity is buying. Ark is buying,” the firm stated via social media.

However, despite these claims, the on-chain data does not match up. Fidelity and ARK Investments both acquired large amounts of BTC today, posting inflow transactions of $41.16 million.

Both ETF issuers had other Bitcoin inflows, but BlackRock’s on-chain data actually shows a net decrease in BTC holdings.

fidelity bitcoin etf
Fidelity Purchasing More Bitcoin. Source: Arkham

These other leading ETF issuers have indeed been purchasing Bitcoin, as independent verification can clearly show. ETF analyst Shaun Edmondson claimed that they bought 665 BTC last Friday and 3,261 BTC on Monday.

Bitcoin’s price has been highly volatile, which might be adding to confusion regarding the ETF market. Last week, the issuer’s collective holdings fell below Satoshi’s wallet, a milestone they passed three months ago.

However, it looks like institutional investors are regaining the confidence to enter the market, as most Bitcoin ETFs have turned green this week.

BTC ETF One-Day Inflows
BTC ETF One-Day Inflows. Source: SoSo Value

Overall, institutional investors have been a key influence on Bitcoin’s market movement for the past year. If net inflow remains positive in the ETF market, it could help create a much-needed bullish narrative in the face of today’s bearish sentiment.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Top 3 Base Meme Coins to Watch Closely This Week

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Base meme coins are heating up this week, with DOGINME, DRB, and CLIZA standing out as key tokens to watch. Doginme is leading the charge with explosive gains and growing hype after being added to Coinbase’s listing roadmap.

DRB is attracting attention as the first Grok-backed token but is still battling near all-time lows despite solid volume. Meanwhile, CLIZA is making waves as a launchpad-focused meme coin, building momentum as it competes with other platforms in the Base ecosystem.

doginme

Doginme is one of the most trending Base meme coins, with a market cap of over $84 million and a recent addition to Coinbase’s listing roadmap.

doginme Price Analysis.
Price Analysis for doginme. Source: TradingView.

The coin has surged 511% in the last six days, with daily volume hitting $3.2 million as Base gains more traction. Doginme is quickly becoming a standout performer among Base meme coins.

If the uptrend continues, DOGINME could break above $0.00139, with room to push toward $0.0015 and $0.0020. However, if momentum fades, the price could pull back to $0.00097, $0.0007, or even $0.00043.

DebtReliefBot (DRB)

Debt Relief Bot (DRB) is the first token created by Grok in partnership with Bankr, an AI-driven Base project focused on companions. The token was uniquely launched directly through a thread on the X social platform, where Grok suggested both the name and ticker in collaboration with Bankr, making it one of the hottest Base meme coins in the last few days.

DRB Price Analysis.
DRB Price Analysis. Source: TradingView.

Currently, DRB has a market cap of $5.2 million and generates $2.5 million in daily trading volume. Despite this activity, DRB is trading near its all-time lows, showing signs of bearish pressure.

If the trend reverses, DRB could move up to test resistance levels at $0.000082 and $0.00018. A strong breakout could even push the price higher toward $0.000249, marking a significant recovery from its current lows.

CLIZA

CLIZA is a token launchpad specializing in AI agentic crypto, positioning itself as a competitor to platforms like Pumpfun and Clanker.

It aims to stand out by offering features such as Smart Metadata, vested team supply, and a built-in buyback and burn mechanism to enhance token value and sustainability.

CLIZA Price Analysis.
Price Analysis for CLIZA. Source: TradingView.

The project currently boasts a market cap of $3.1 million, with daily trading volume reaching $2.3 million and a growing community of nearly 60,000 holders.

If CLIZA loses support at $0.00339, the price could drop further toward $0.00071.

However, if bullish momentum returns, the token could challenge resistance at $0.0056, with a potential push toward $0.0071 if buying pressure accelerates and crypto AI agents recover their upward momentum.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Nigeria Turns to Crypto to Combat Inflation and Naira Devaluation

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Nigeria recently faced one of the most severe economic crises. Inflation surged to record highs towards the end of 2024. Despite some level of easing, citizens still endure inflationary pressures.

Meanwhile, the Nigerian government is accelerating efforts to regulate cryptocurrency transactions. Prospects are that interventions could boost revenue for the country.  

Nigeria Faces Inflationary Pressures

Nigeria, Africa’s most populous nation and largest economy, has long struggled with economic instability. Sources indicate its annual inflation rate soared to 24.48% in January 2025 before dropping to 23.18% in February.

The 1.3% decline suggests the government’s monetary tightening measures may be starting to take effect. However, the country’s naira currency has devalued significantly. It lost 230% of its value against the US dollar over the past year.

“The drop in the inflation rate is mainly due to the rebase of the Consumer Price Index (CPI), not an actual reduction in price levels or inflationary pressure,” highlighted one citizen.

It comes as the country’s import-dependent economy is highly vulnerable to external shocks. Against this backdrop, President Bola Tinubu’s administration implemented bold economic reforms to stabilize the economy.

Among them are the removal of decade-long fuel subsidies and the unification of the country’s multiple exchange rates. However, these measures triggered unintended consequences, such as skyrocketing fuel prices and a severe cost-of-living crisis.

The effects of inflation are particularly devastating in conflict-ridden regions where communities rely on subsistence farming for food.

Crypto as a Hedge With New Regulations on the Horizon

Amid the economic uncertainty, many Nigerians have turned to crypto as a hedge against inflation and currency depreciation. Blockchain analytics firm Chainalysis revealed that between July 2023 and June 2024, Nigerians traded approximately $59 billion in crypto assets.

Nigeria Tops Crypto Transactions in Sub-Saharan Africa
Nigeria Tops Crypto Transactions in Sub-Saharan Africa. Source: Chainalysis report

This surge in crypto adoption reflects a growing distrust in the traditional financial system. It also suggests a desire for more stable and accessible financial alternatives.

Nigerian authorities are finalizing new regulations in response to the rise in crypto adoption. They want to integrate digital asset transactions into the formal economy.

The Nigerian SEC (Securities and Exchange Commission) is drafting policies to ensure all eligible transactions on regulated exchanges are incorporated into the country’s tax network.

A proposed bill outlining taxation policies for crypto transactions and other digital assets is under legislative review. The general sentiment is that it will pass within the first quarter (Q1) of 2025.

Meanwhile, the Central Bank of Nigeria (CBN) is stabilizing the currency and restoring investor confidence. Governor Olayemi Cardoso announced that the bank had cleared $2.5 billion of the foreign exchange backlog, with another $2.2 billion expected to be resolved soon.

Nigeria’s President Tinubu has also ordered the release of food reserves and establishing a commodity board to curb hoarding and stabilize prices.

While Nigeria’s economic crisis leaves millions struggling, the government’s intervention efforts involving crypto taxes and signs of easing inflation suggest a potential turnaround. However, much depends on how effectively authorities implement their policies and whether global economic conditions remain favorable.

At the same time, the country’s cryptocurrency adoption presents both opportunities and challenges. If regulated properly, digital assets could provide Nigerians with financial alternatives that help them navigate economic instability.

Notwithstanding, striking a balance between innovation and regulation will ensure that crypto remains a viable solution rather than a source of new financial risks.

“Currently, Nigeria needs massive investment in both formal and professional education; this is essential to increase our skilled labor force and be competent in today’s global digital economy.Special attention should be paid to areas in Blockchain, Digital Assets, Web3,” one user shared on X.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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