Will Pepe Coin Price Lose $0.00006 Support Amid Market Correction?

The PEPE coin price correction offers buyers an opportunity to replenish the exhausted bullish momentum.

By Sahil Mahadik

8 hours ago

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PEPE Price

STORY HIGHLIGHTS

Coin Eyes Recovery After Hitting Fibonacci Level A constructive pullback of the PEPE price to 38.2% FIB level indicates the buyers are in a suitable position to resume the recovery trend.

The falling price may obtain firm support levels at $0.000013 or $0.0000147.

The 24-hour trading volume in the Pepe coin is $1.46 Billion, indicating a 13% loss.

Amid the current correction trend in the crypto market, the Pepe coin price witnessed a sharp reversal from the $0.0000108 mark. This bearish downturn pledged the coin’s price by 35% within three days to reach a low of $0.000007. As the Bitcoin price prolongs its correction trend, the pepe price teases a breakdown below $0.000007. key support, signaling the potential for further downfall.



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PEPE Coin Eyes Recovery After Hitting Fibonacci Level





Amidst the recent memecoin mania in the crypto market, the Pepe coin stands out as an outperforming asset in its [10sector.From the swing of $0.00000109, this frog-themed memecoin rallied 894% to reach a high of $0.00001084.



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However, the overextended rally coupled with the BTC price correction below $70000 triggered a sharp reversal in the PEPE price. Thus, the PEPE coin plunged to the current trading price of $0.000008 seeking support at the Fibonacci retracement level of 38.2%.



In theory, this correction level provided suitable support for buyers to regain bullish and rebound for higher recovery. Today’s daily candle with long-tailed rejection accentuates the presence of high demand pressures and the potential for buyers to regain control. However, a reversal pattern at this support is needed to get a better confirmation for recovery.



As per the Fibonacci extension tool, the post-correction rally may lead the OEOEO coin price to $0.000013 or $0.0000147 mark.



Will Fibonacci Support Hold Against Market Pressure?

Should the market’s selling pressure continue, the PEPE price could dip beneath the 38.2% Fibonacci support level of $0.000007, potentially triggering a slide to $0.000006. This key horizontal threshold, coinciding with the 50% retracement level, serves as a critical pivot for traders, where any additional decline may indicate a diminishing strength among buyers.



Exponential Moving Average: A 20-day EMA slope at $0.00007 offers additional support for buyers to maintain the recovery trend.

Relative Strength Indicator: The daily RSI line above 50% indicates the market sentiment stands bullish for this asset.



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ABOUT AUTHOR

DISCLAIMER

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeRead more…



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Top 10 Bitcoin Mining Rigs of 2024: Leading the Charge in Crypto Earnings

Top 10 Bitcoin Mining Rigs of 2024: Leading the Charge in Crypto Earnings

Jamie Redman

By Jamie Redman



Sat Mar 16 12:30:37 EST 2024



Over the past month, the valuation of bitcoin has seen a notable increase, leading to significantly enhanced profits for today’s most sophisticated application-specific integrated circuit (ASIC) bitcoin mining devices. As of March 16, 2024, the top ten ASIC miners focused on the SHA256 consensus algorithm are generating daily earnings ranging from $10 to $21, assuming electricity costs of $0.12 per kilowatt hour (kWh).



The Leading Bitcoin Miners of 2024

Bitcoin miners are faring significantly better than they did in 2022, with current data indicating that 21 ASIC mining rigs are netting profits of $5 or more daily. As of now, leading the pack in daily earnings is the Microbt Whatsminer M63S, achieving 390 terahash per second (TH/s) of SHA256 hashing power.



Released in November 2023, the hydro-cooled M63S is estimated to generate $23.46 daily, based on today’s BTC values and an electricity rate of $0.12 per kilowatt hour (kWh). The entirety of the top ten ASIC bitcoin mining devices were launched in 2023 and 2024.



Claiming the second spot for profitability is Bitmain’s Antminer S21 Hydro, delivering 335 TH/s. The hydro-cooled S21 version is currently estimated to secure $20.84 daily in earnings, with electrical expenses pegged at $0.12 per kWh, having hit the market in February 2024.



Ranking third for earnings is the Microbt-crafted Whatsminer M63, with an output of approximately 334 TH/s and daily profits estimated at $17.03 at the same electricity cost. Positions four and five for profit are occupied by Microbt’s Whatsminer models M66S and M66.



The M66S offers 298 TH/s, translating to roughly $16.39 in daily earnings, while the M66 provides about 280 TH/s, leading to an estimated $14.27 daily. The sixth through eighth places for profitability are held by the Bitmain Antminer S19 XP Hydro ($12.34/day), Antminer S21($11.58/day), and Antminer T19 Pro Hydro ($10.56/day).



The ninth and tenth ranks go to Microbt’s Whatsminer M60S (186 TH/s) and Bitmain’s Antminer T21 (190 TH/s), both securing estimated daily profits in the range of $10.23 to $10.18. Microbt and Bitmain are the predominant brands among the top 13 devices, whereas Canaan‘s Avalon A1466 stands as the 14th most profitable ASIC miner.



The A1466, capable of 150 TH/s, is estimated to bring in $6.94 daily, considering an electrical cost of $0.12 per kWh. At the end of the list as of March 16, 2024, is Bitmain’s Antminer S19j, with a hashing power of 90 TH/s, which generates around $0.39 daily.



What do you think about the top ten most profitable bitcoin miners on the market as of March 16, 2024? Share your thoughts and opinions about this subject in the comments section below.



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ASIC Mining, Bitcoin, BTC, Consensus Algorithm, consensus algorithms, Crypto, Cryptocurrency, SHA256

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Top 10 Bitcoin Mining Rigs of 2024: Leading the Charge in Crypto Earnings

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Jamie Redman

By Jamie Redman



Sat Mar 16 12:30:37 EST 2024



Over the past month, the valuation of bitcoin has seen a notable increase, leading to significantly enhanced profits for today’s most sophisticated application-specific integrated circuit (ASIC) bitcoin mining devices. As of March 16, 2024, the top ten ASIC miners focused on the SHA256 consensus algorithm are generating daily earnings ranging from $10 to $21, assuming electricity costs of $0.12 per kilowatt hour (kWh).



The Leading Bitcoin Miners of 2024

Bitcoin miners are faring significantly better than they did in 2022, with current data indicating that 21 ASIC mining rigs are netting profits of $5 or more daily. As of now, leading the pack in daily earnings is the Microbt Whatsminer M63S, achieving 390 terahash per second (TH/s) of SHA256 hashing power.



Released in November 2023, the hydro-cooled M63S is estimated to generate $23.46 daily, based on today’s BTC values and an electricity rate of $0.12 per kilowatt hour (kWh). The entirety of the top ten ASIC bitcoin mining devices were launched in 2023 and 2024.



Claiming the second spot for profitability is Bitmain’s Antminer S21 Hydro, delivering 335 TH/s. The hydro-cooled S21 version is currently estimated to secure $20.84 daily in earnings, with electrical expenses pegged at $0.12 per kWh, having hit the market in February 2024.



Ranking third for earnings is the Microbt-crafted Whatsminer M63, with an output of approximately 334 TH/s and daily profits estimated at $17.03 at the same electricity cost. Positions four and five for profit are occupied by Microbt’s Whatsminer models M66S and M66.



The M66S offers 298 TH/s, translating to roughly $16.39 in daily earnings, while the M66 provides about 280 TH/s, leading to an estimated $14.27 daily. The sixth through eighth places for profitability are held by the Bitmain Antminer S19 XP Hydro ($12.34/day), Antminer S21($11.58/day), and Antminer T19 Pro Hydro ($10.56/day).



The ninth and tenth ranks go to Microbt’s Whatsminer M60S (186 TH/s) and Bitmain’s Antminer T21 (190 TH/s), both securing estimated daily profits in the range of $10.23 to $10.18. Microbt and Bitmain are the predominant brands among the top 13 devices, whereas Canaan‘s Avalon A1466 stands as the 14th most profitable ASIC miner.



The A1466, capable of 150 TH/s, is estimated to bring in $6.94 daily, considering an electrical cost of $0.12 per kWh. At the end of the list as of March 16, 2024, is Bitmain’s Antminer S19j, with a hashing power of 90 TH/s, which generates around $0.39 daily.



What do you think about the top ten most profitable bitcoin miners on the market as of March 16, 2024? Share your thoughts and opinions about this subject in the comments section below.



TAGS IN THIS STORY

ASIC Mining, Bitcoin, BTC, Consensus Algorithm, consensus algorithms, Crypto,

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