The critical metric for PEPE has hit the bottom: Will the decline continue?

$PEPE price has fallen by 8 percent a few days after reaching an all-time high on December 9. The RSI, which measures momentum, is at 33..3, indicating that the popular memecoin is approaching oversold territory. However, since the RSI has not fallen below 30, it signals that selling pressure may continue.

In addition, the 7-day MVRV Ratio in #PEPE is -9.3 percent, indicating that short-term investors have suffered significant losses. According to historical data, an upward movement usually does not begin before this rate drops to between -12 percent and -15 percent.

The RSI (Relative Strength Index) measures the speed and magnitude of an asset's price change, evaluating whether the asset is overbought or oversold. RSI above 70 usually indicates overbought and a possible pullback, while values ​​below 30 indicate oversold and a potential rally. PEPE’s RSI level of 33.3 indicates that the price may continue to face downward pressure.

In addition, the weakening of the memecoin trend is increasingly increasing the danger signals. There were large inflows into memecoins in October and November. Especially the listings of memecoins by popular exchanges carried the trend to higher levels. However, the emergence of new trends and the increase in $BTC dominance dealt a blow to memecoins.