🐸 PEPE’s Explosive 950% Gains Under Threat as Bears Take Over

Pepe’s (PEPE) price has surged by 956% over the past 365 days. However, despite hitting a new all-time high in May, the meme coin may be poised for further losses.

At press time, PEPE’s market value sits at $0.0000073. As sellers begin to take control, the coin’s bullish momentum faces serious challenges, signaling a potential downturn in its price trend.

🔸 #Pepe Now at Make or Mar Position

On the 4-hour chart, PEPE is trading near the 20 and 50-day Exponential Moving Averages (EMA), key technical indicators used to assess a cryptocurrency’s trend.

Historically, PEPE’s price has seen extended rallies when it trades above these EMAs. For example, on August 22, the 20-day EMA (blue) crossed above the 50-day EMA (yellow), forming a golden cross — a bullish signal. At that time, PEPE was trading around $0.0000078, and within three days, the price surged to $0.0000096.

However, as of now, both EMAs are converging, indicating that PEPE’s short-term potential is at a crucial juncture. This could either lead to a new price rally or signal further decline depending on market momentum.

For context, bulls represent addresses that purchased at least 1% of the total trading volume during a specific period, while bears are those who sold a similar amount. When there are more bulls than bears, it typically signals a potential price increase.

However, since there are currently more bears than bulls, PEPE’s price may face a significant decline.

🔸 PEPE Price Prediction: Bulls in Trouble

Regarding price prediction, the In/Out of Money Around Price (IOMAP) metric reveals that PEPE may encounter significant resistance as it tries to climb higher. The IOMAP groups addresses based on whether they are making money, losing money, or breaking even at the current price. It then analyzes the volume of tokens bought at various price levels to determine potential support or resistance zones.