PEPE's crazy roller coaster ride: up, down, and down again

The popular memecoin project PEPE has been on a roller coaster ride recently, experiencing a violent drop in the past 24 hours. PEPE fell below its previous support level, down 15.15% during the European trading session, and is now priced at $0.000008054. What will happen to PEPE next?

All-time high to a sharp drop

PEPE hit an all-time high of $0.00001718 in May this year, but then fell all the way and has fallen more than 53% so far. Since its launch in April 2023, PEPE has experienced a sharp rise and fall, breaking through multiple key support levels in recent weeks and stabilizing at a low of $0.000008. It is currently fluctuating between $0.000008 and $0.000012, and the market outlook is unclear. This unpredictable trend shows that PEPE has pulled back 36% this month, showing a bearish trend, and the price has fallen 45%.

Market environment impact

Today's cryptocurrency market is generally under pressure, including major assets such as Bitcoin, Ethereum and Solana, which have all seen significant declines. Other memecoin projects such as Floki, Dogecoin and Shiba Inu have not been spared, exacerbating the overall market's bearish sentiment.

PEPE chart analysis

- **Uptrend**: If the market turns better, PEPE may rise to the resistance point of $0.000009, indicating signs of recovery. If it stabilizes at this point, it may rise to $0.00001 by the end of July.

- **Bullish sentiment strengthens**: PEPE is expected to break through the $0.000005 threshold.

- **Negative trend continues**: The price may fall to the support level of $0.000008, or even further to $0.000007, facing greater pressure.

- **Market oversold**: If the bears continue to exert pressure, the price may drop to $0.000005.

The future of PEPE is full of uncertainty, whether it is a small rebound or a continued sharp drop. Dear coin holders, please fasten your seat belts, PEPE's crazy journey continues!

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