Pepe Coin Price Analysis

The downward trajectory of the cryptocurrency market extends for the second half of June as Bitcoin tumbled to a monthly low of $64000. The majority of major altcoins are witnessing the same momentum but the memecoin sectors are facing aggressive selling pressure due to their volatile nature. Amid the downfall, the Frog-themed memecoin PEPE drops to a low of $0.00000968 but holds its bullish pattern for a potential rebound. Over the past three weeks, the PEPE coin has witnessed a sustained correction resonating within two downsloping trendlines of the flag. In theory, the chart pattern provides buyers with a temporary counter-trend move to recuperate the bullish momentum before the next move.Amid the recent market correction, the PEPE price fell from $0.00001725 to $0.00000968 low, registering a 42.8% loss.

According to Lookonchain, a major player in the crypto space, referred to as whales, deposited a staggering 407.74 billion $PEPE tokens, valued at approximately $4.27 million, into Binance. This transaction was made at a break-even price, occurring just two hours before the report. This smart money investor exited without much profit hints he/she does not expect a major move in PEPE in the near term.

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