Memecoin Market Turbulence: PEPE Steady Holds, WIF Plunges Breaks Key Support Level!

PEPE token has shown stability in a bearish market and is currently trading close to recent highs.

WIF token faces a sharp drop and breaks through key support levels.

The memecoin market is experiencing a minor correction with reduced trading volumes.

Memecoin suffered a minor setback, with its total market capitalization of about $46 million, down slightly by 0.18% over the past 24 hours. Trading volume also fell by about 25% to close at $3.266 million.

Recent price action shows that PEPE has been trading within a bearish channel since hitting an all-time high of $0.000017 in May.

Analysts believe that a break below the immediate support level of $0.000011 could push PEPE to lower support levels, possibly hitting a low of $0.000010, and could even test the $0.0000097 and $0.0000088 levels, which were last seen in June and May, respectively.

Recent market data shows that WIF has broken below support near $1,957, indicating potential further downside risk. Analysts warn that if this bearish momentum continues, WIF may seek support near $1.0175, which appeared in March this year.

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