Pepe Coin (PEPE) is at a critical juncture as it continues to slide, following Bitcoin’s dip below $56,000. The upcoming Non-Farm Payrolls (NFP) report, scheduled for release on Friday, September 6, at 8:30 AM ET, could be a key factor in determining whether Pepe Coin rallies or faces a significant sell-off. If the report disappoints, Pepe Coin could drop by 26%, but if it meets expectations, there is potential for a 27% price surge.
Impact of Non-Farm Payrolls on Pepe Coin Price
The NFP report provides essential data on the U.S. job market, offering insights into the broader economic health. Analysts predict that the U.S. added between 130,000 and 200,000 new jobs in August, with an average expectation of 164,000. For context, July’s report showed only 114,000 new jobs, down from 206,000 in June.
If the report underperforms and shows fewer than 164,000 new jobs, or if the unemployment rate remains high, the Federal Reserve may prioritize job creation by considering a 50-basis point interest rate cut. While this could help employment, it might also suppress economic growth, leading to a bearish reaction across markets.
Since Bitcoin often responds to NFP data, a negative report could trigger a decline in Bitcoin’s price. This would likely cause Pepe Coin to break below its key support level, leading to a potential 26% drop.
Death Cross Risks Intensify for Pepe Coin
Pepe Coin’s downward trend has been exacerbated by mounting sell pressure across the market. The token dropped 3.2% over the last 24 hours, now trading at $0.00000709. This price aligns with a significant support level that Pepe Coin has maintained for the past 33 days.
If Pepe Coin falls below this support, it could decline by 26% to $0.00000520, marking a new yearly low, following its August 5 crash. Compounding this risk is the impending formation of a Death Cross—a bearish technical pattern where the 50-day Exponential Moving Average (EMA) crosses below the 200-day EMA. If this pattern completes, it could signal an extended downward trend for PEPE.
However, if the NFP report meets or exceeds expectations, Bitcoin’s price could rally, bringing the broader crypto market along with it. In such a scenario, Pepe Coin might avoid the Death Cross and surge by 27%, potentially reaching $0.00000900. This move would push the token above both its 50-day and 200-day EMAs, reversing its current bearish outlook.
Market Outlook
Pepe Coin’s future remains closely tied to the price movements of Bitcoin and Ethereum. The upcoming NFP report will likely have a significant impact on the broader cryptocurrency market, determining whether Pepe Coin continues its decline or experiences a rebound. Investors will be watching closely to see how the market reacts to this critical economic data.
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