Pepecoin Price Plunges Amid Market Turmoil

The cryptocurrency market has been experiencing significant turmoil, and Pepecoin (PEPE) has not been immune to the downturn. In the past 24 hours, the Pepecoin price has recorded a double-digit correction of 11.21%, with a trading volume of $1.94 billion, representing a 61.48% increase. This drop has erased all the gains made by the memecoin, resulting in a year-to-date (YTD) return of -6.89%.

Pepe Memecoin Retests Crucial Support Zone

With a market capitalization of $7.65 billion, Pepecoin has secured the 24th position in the cryptocurrency market. The current price correction has brought the memecoin to the verge of testing its important support level. The question on every investor’s mind is whether the price of Pepe will make a strong bullish comeback this weekend or plunge toward its lower support levels.

Pepe Price Analysis

The 50-day Exponential Moving Average (EMA) has recorded a bearish convergence in the Pepe price chart, indicating an increase in negative influence. However, the 200-day EMA could act as a support to the price trend in the 1D time frame. The Relative Strength Index (RSI) indicator has dropped below the neutral point, suggesting a strong bearish price action for the meme coin in the market. Furthermore, the average trendline is experiencing a negative convergence, which may lead to a continued loss of momentum for the Pepe coin price this week.

Possible Price Targets for Pepe Coin

If the bulls manage to hold the Pepe crypto token above its important support of $0.0000180, it may prepare to retest its resistance level of $0.0000220. Maintaining the price above that level could set the stage for it to head toward its upper high of $0.0000250. On the other hand, an intensified bearish action could result in the memecoin plunging toward its lower support level of $0.0000140 this month.

Conclusion

In conclusion, the Pepecoin price has experienced a significant correction amid market turmoil. The memecoin is currently retesting its crucial support zone, and its future price action is uncertain. While the bulls may attempt to reclaim the $0.000020 mark, the bears may push the price toward its lower support levels. Investors are advised to keep a close eye on the market sentiments and price analysis to make informed decisions.

FAQs

* Will Pepe coin go up? The Pepe memecoin is presently trading at a discount of 35.48% from its ATH, indicating a strong bullish outlook. * What will PEPE be worth in 2025? If the bullish sentiment sustains, this altcoin could conclude the year 2025 with a potential high of $0.0000731. * How high can Pepe coin go? By 2030, the price of Pepe tokens could range between $0.000123 and $0.000159.

Source: Coinpedia.org

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