🐸🐸🐸 **PEPE Coin (PEPE) Price Defied the Market Crash by Bouncing from Critical Support Levels**
Defying the broader market correction, the world’s third-largest meme coin, PEPE Coin ($PEPE), has surged by 4%. As of now, PEPE is trading at $0.0000114 with a market cap of $4.8 billion and a daily trading volume of $726 million. According to the technical chart, PEPE is at a crucial juncture, facing a make-or-break situation.
**PEPE Coin Price – A Do Or Die**
The technical chart shows PEPE retesting critical support levels at $0.000011. PEPE is currently demonstrating stronger relative strength compared to top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). It is turning its previous all-time high into a support level after successfully retesting the 1-day 100 EMA. Traders are watching for a potential breakout from the 1-day downtrend, which would signal an ideal opportunity to long on PEPE, noted analyst Crypto Scient.
Another analyst, Crypto Patel, highlights a pivotal moment for PEPE, stating that it must hold the crucial support level of $0.000011 to resume its upward trend. If PEPE fails to maintain this level, it could face a significant downside move of up to 40%. CoinGape reported a decline in PEPE Coin Open Interest, suggesting a lack of bullish momentum ahead.
While PEPE Coin makes a move to the upside, its competitor Dogwifhat (WIF) has dropped by 8% to $1.77 amid strong whale sell-offs. Earlier today, a WIF whale deposited 12.66 million WIF coins worth $23.4 million to Binance.
Meanwhile, Shiba Inu has seen a notable surge in its burn rate, with burnt SHIB tokens increasing by 1,100% in a single day.
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