🚨 Let's Talk About $PEPE 🚨
Current Downtrend Analysis
As you know, Pepe has been in a downtrend since last week, falling from $0.0000165 to $0.000015, finding its support above $0.000014. This 11% price drop has wiped hundreds of millions from Pepe's market cap, which was at $6.25 billion.
Price Dynamics
Recent Performance:
The price of PEPE is down by almost 11% over the past week.
Market Cap Impact:
This decline has significantly impacted its market cap, reducing it from its previous high.
Previous Surge:
Last month, PEPE experienced an 80% surge, which is likely a contributing factor to the current correction.
Key Takeaways
1. Support Level:
The current support level is holding above $0.000014, which is crucial for potential recovery.
2. Market Volatility:
The significant price fluctuations indicate a high level of volatility, common in meme coins.
3. correction Phase:
The recent downtrend can be seen as a market correction following the substantial 80% surge last month.
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