Today, the PEPE cryptocurrency is in a recovery period after a significant drop of around 30% at the beginning of October. After this decline, the coin formed an upward trend, presenting technical patterns that suggest a possible new appreciation cycle in the short term.
Despite the recent recovery, PEPE faces resistance in the market, with an increase in selling pressure and a decrease in transactions from large investors (whales). If the current support is broken, the price of the coin could fall even further, approaching the $0.0000068 range.
Interest in PEPE remains strong due to its appeal as a meme coin and the possibility of substantial returns based on market movements and relevant announcements. However, it is worth noting that the lack of a clear roadmap and the focus on community hype limit the long-term growth potential.
If you are considering investing in PEPE, it is important to monitor short-term trends and the behavior of other cryptocurrencies, such as Bitcoin, which can influence the price of meme coins like PEPE.
