Pepe Price Prediction: PEPE to Plunge 5% as Investors Flock to the Altcoin

(Zhu Ye Jiao Liu)

The latest drop has caused the price of PEPE to fall by more than 15% in the past week and more than 25% in the past month.

The meme coin has made multiple lower lows and higher highs over the past few days, following which a medium-term negative trend line has emerged on the 4-hour chart of PEPE. If the bears continue to exert pressure on the altcoin, the price of Pepe may fall below the immediate support of $0.00001083 in the coming hours.

A break below this technical support may put PEPE at risk of falling to $0.00000983 in the next 24 hours. However, this bearish thesis may be invalidated if the price of Pepe can stay above $0.00001083 in the next 12 hours.

New memecoin projects are beginning to include a degree of utility to lure investors away from traditional cryptocurrencies like Dogecoin (DOGE) and Shiba Inucoin (SHIB)

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