In recent months, meme coins, especially PEPE, have exhibited high volatility and strong investor interest. Despite the significant declines in the value of the PEPE coin, the digital asset continues to be a topic of interest for crypto enthusiasts and investors looking for potential gains. Recent analysis has revealed a dramatic decline in PEPEâs profitability, reflecting the current market sentiment.
The PEPE coin, which gained popularity earlier this year, has experienced a significant price drop. Currently, investors are seeing their profit margins drop to 72%. This drop has caused major losses for those who invested during the peak period. In the last two weeks, the price of PEPE has fallen from $0.00001000 to $0.000007326, with the loss of 123 trillion PEPE being a major factor during this period.
PEPEâs price is currently trading within a falling wedge pattern, which is often seen as a sign of a potential uptrend. After failing to break above the upper resistance in late July, PEPE found buyers at $0.000007326. If PEPE manages to break out of this falling wedge, an 80% rally could occur and the price could rise above the yearly high of $0.00001725. However, if it fails to break out of this pattern, further price declines are expected.
Traders should be careful as they approach the lower trendline of PEPEâs descending wedge pattern. Breaking above this trendline could signal a significant rally and a potential buying opportunity. However, it is important to pay attention to market signals and general economic factors, as if the pattern fails to break, the price could fall further. The critical support levels to watch are $0.00000633 and $0.00000474, where declines could weaken the bullish outlook.
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So who can benefit?
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I EXPLAIN IN DETAILED.
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