Is Pepe's Demise Near? PEPE Price Falling Nearly Monthly Low - Get the Latest
Pepe ($PEPE) has had the worst losses among the three top meme coins, plunging 9.5% overnight. Pepe is the biggest meme currency outside of Doge.
With a price of $0.000007301 as of right now, PEPE is down around 15.4% from where it was seven days ago.
Because of this, the daily and weekly losses are greater than those of Dogecoin and Shiba Inu, the two market leaders.
In contrast, as of this writing, DOGE is trading at $0.1001, a 4.6% weekly decline and a 4.5% overnight drop.
At its current price of $0.00001326, SHIB is down 3.8% today and 5.5% for the week.
Even DogWifHat, a meme coin with a market cap of $1.5 billion, is crashing todayâWIF is down 24% for the week and 12% overnightâso PEPE, which has a market cap of $3 billion, might face some tough competition for a flip if it keeps falling below its one-month low of $0.00000603 posted on August 5.
Analysis of PEPE Prices Lately
After three months of trading, PEPE inally broke over the $0.00001 level last week after encountering strong resistance around that level. The token's support has been declining.
A global wave of macroeconomic uncertainty, including widespread asset sell-offs and mounting concerns about the possibility of a larger war in the Middle East, triggered the market fall on Monday, August 5, which in turn triggered the decline.
Now that the relative strength index (RSI) has fallen to 34, PEPE trading slightly below its 30-day moving average and is considered oversold. Although PEPE roved 1.4% within an hour as of writing, investors should be mindful that a further selloff and further losses are possible over the weekend.
