PEPE Coin price update
Pepe Coin (PEPE) recently experienced a 25% price drop after peaking at $0.0000172 in late May, falling to $0.00001274 with its market cap at $5.36 billion. As Bitcoin struggled above $70,000, the broader cryptocurrency market faced downward pressure, suggesting a period of correction or consolidation.
Since mid-April, PEPE saw a 335% rise from $0.00000393 to $0.000017, driven by an ascending trendline. However, Bitcoin's recent consolidation has slowed the altcoin market's recovery, causing PEPE to drop below its support level.
The breakdown indicates potential further declines to $0.00000881 or $0.000006. A recent long tail rejection candle shows interest in buying PEPE at lower prices.
Nascent, a venture capital firm, purchased 447.67 billion PEPE tokens worth $5.48 million, achieving a 4.8% unrealized profit. PEPE is now Nascent’s top asset, with an estimated total profit of $2.45 million.
For a rebound, PEPE needs to stabilize above $0.0000108 and overcome resistance at $0.000017. The 50-day EMA provides additional support at $0.0000108, while a drop in the ADX slope to 32% suggests the current correction may recover the bullish momentum.
