Pepe, the popular memecoin, has fallen by around 10% in the last 24 hours as of the date of writing. While Memecoin decreased by 30.83% in the last 1 week, it decreased by 40.51% in the last 1 month. While Pepe investors have lost almost half of their assets in the last month, will the rise begin now? Here is the current Pepe price prediction.
Important points
The downward trend of Pepe coin led to significant losses, falling by 15.15% in 24 hours.
A 42% increase in trading volume could signal a turning point or further decline.
Technical indicators point to strong bearish momentum and recovery potential exists.
Pepe Price Prediction
Pepe Coin saw its biggest rise recently, reaching an all-time high of $0.00001718 in May. However, the PEPE price has fallen more than 53% since that peak. Launched in April 2023, memecoin has experienced sharp rises followed by rapid declines, leading to various phases of consolidation.
Last week, Pepe fell below several critical support levels, settling at a low of $0.000008. The price fluctuated between $0.000008 and $0.000012, indicating continued uncertainty amid increasing market volatility. This move resulted in a 36% retracement, highlighting its unpredictable trajectory. Overall, Pepe is down 45% this month, marking a downward trend.
Today, the broader cryptocurrency market is facing significant selling pressure. Major assets such as Bitcoin, Ethereum, and Solana recorded significant declines. Similarly, other meme coins such as $PEPE , $FLOKI , $DOGE and Shiba Inu also experienced declines, contributing to the broader market's bearish trend.
Pepe Technical Analysis
If a bullish trend takes over the PEPE coin's market, it could quickly rise to the nearest resistance at $0.000009, indicating the market is recovering. Stabilizing at this point could push the currency towards the $0.00001 level by the end of July. And if the bullish sentiment creates further pressure, PEPE could surpass the $0.000005 threshold.
On the downside, continued negative trends could push it towards the $0.000008 support level. This could further jeopardize his position and potentially drop to $0.000007. With the current market corrections, if the bears put more pressure, the Pepe price could reach $0.000005, indicating the market is oversold.
Daily technical indicators for Pepe/USDT show a marked shift in market sentiment. The Moving Average Convergence Divergence (MACD) remains in the bearish zone, with both the MACD line and the signal line trending below the zero line, indicating stronger bearish momentum.
