$PEPE Price Drops 8% as Momentum Indicators Signal Further Weakness - BeinCrypto Analytics

PEPE's price has seen a significant drop of nearly 8% in the last 24 hours, following its all-time high on December 9. With the Relative Strength Index (RSI) at 33.3, PEPE is approaching oversold territory but has yet to reach the critical 30 level, suggesting room for further correction. The 7-day MVRV ratio of -9.3% indicates losses for short-term holders, with potential downside targets ranging from -12% to -15%.

If PEPE maintains its support at $0.0000188, it could stabilize. However, a breakdown below this level could drive the price to $0.000017, and even as low as $0.000011, marking a 47% drop. This bearish scenario is supported by the formation of a "death cross" in its EMA lines, signaling a continued downtrend.

However, if PEPE manages to regain momentum, a rebound above $0.0000227 could lead to further upside, with potential targets at $0.0000259 and $0.000028. The next few days are critical for determining PEPE's path.