Pepe (PEPE) price, the frog-themed memecoin, has seen a sharp decline, losing 40% of its value over the past month. After briefly touching $0.000028, the token struggled to maintain momentum and is now facing further downside risks. Analysts warn that if support levels fail, PEPE could drop to $0.0000031. The broader market’s direction will play a key role in determining whether the token can recover from recent losses.
Pepe Coin Price Prediction: Is $$0.0000031 The Next Support Level?
Crypto analyst Ali shared insights on social media, warning that PEPE may decline significantly if it fails to hold a key support level. According to his analysis, the memecoin could drop to $0.00000031 if it closes below $0.00000092 on the daily chart. Analyst illustrates a downward trend, with PEPE struggling to maintain stability amid broader market fluctuations.
The analysis highlights key technical levels that traders are closely monitoring. If PEPE breaches the mentioned threshold, it could trigger further selling pressure, leading to a sharp decline.
PEPE Drops 66% From December Peak as Crypto Market Sees Corrections
The meme coin PEPE experienced a remarkable surge during the final rally of 2024, reaching an all-time high of $0.00002825 on December 9. However, recent market corrections have caused a sharp decline, pushing the asset down by 66% from its peak. PEPE is now fluctuating between $0.0000089 and $0.00001 as volatility grips the cryptocurrency market.
Broader trends indicate a cooling period across digital assets, following months of bullish movement. While PEPE’s momentum has slowed, investors remain watchful for potential rebounds in the evolving crypto landscape.
Pepe Price Analysis
As of Wednesday, the PEPE price is trading at $0.000009325, showing minimal volatility within a tight range. The meme coins remain in a consolidation phase, with critical resistance at $0.000012 and strong support at $0.000008. Price movement suggests a lack of immediate bullish momentum, keeping traders cautious.
The MACD indicator presents a neutral to bearish outlook, with the MACD line slightly below the signal line. This suggests weakening momentum as the histogram remains near equilibrium.
If bearish pressure intensifies, PEPE could retest the $0.000008 support level. Conversely, a breakout above $0.00001 might shift sentiment toward a bullish recovery. The Relative Strength Index (RSI) is currently at 41, indicating mild bearish conditions.
Source: TradingView
Pepe Coin price faces critical support challenges as bearish pressure mounts. If key levels break, PEPE could slide toward $0.0000031. Market trends will determine whether recovery is possible.
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