$PEPE Analysis: $800 million volume
Pepe (PEPE) price has fallen 6.5% in the past 24 hours, and analysis suggests that the price may continue to fall in the coming days and weeks.
According to data, Friday's trading volume exceeded $800 million for the sixth consecutive trading day.
Pepe's price has been moving in a descending trend channel since reaching a local price peak in May (over $0.000017).
It also recently broke below the 50DMA and encountered resistance on the retest. Meanwhile, the 21DMA has been acting as resistance.
Chart studies indicate that Pepe faces potential losses. With Bitcoin (BTC) suffering from a wider market downturn due to withdrawals from US exchange-traded funds, the possibility of a negative outcome has increased. Further difficulties may be on the way.
It is still early to buy the dip, and everyone is waiting for the opportunity to buy Pepe when the price drops.
