FACTORS LEADING TO PROLONGED DOWNFALL OF $PEPE 😬😬😬 HERE IS WHAT YOU HAVE TO KNOW ,HUGE LOSES AHEAD 😕😕😕
One major reason is the loss of its nearly two-month-long support level, which increased selling pressure on the coin . Additionally, Bitcoin's struggle to maintain its position above the $70,000 mark added downward pressure on the broader cryptocurrency market, affecting Pepe coin's price .
It's also worth noting that Pepe coin's price correction began after peaking at $0.0000172 in late May, resulting in a 25% drop to $0.00001274 .The coin's market cap also decreased to $5.36 billion during this period.
Key Factors Contributing to Pepe Coin's Downfall:
- _Loss of Support Level_: The breakdown below the two-month-long support level increased selling pressure .
- _Bitcoin's Market Performance_: Bitcoin's struggle to maintain its position above $70,000 added downward pressure on the broader cryptocurrency market .
- _Market Correction_: Pepe coin's price correction after peaking at $0.0000172 in late May .
- _Whale Accumulation_: Whale accumulation at market dips has helped prevent a prolonged correction .
Despite these factors, potential buying interest at lower prices could signal a recovery in Pepe coin . However, the coin's price could potentially plummet to $0.00000881 or even $0.000006 if the downward trend continues .
