Pepe Price Prediction as Meme Coins Crash – Is PEPE Falling to Zero?
Today, the PEPE price has significantly retraced amidst a wider market crash, with major meme coins dropping 10-15%.
Investors may want to hold off as indicators show further downside ahead.
The PEPE price has decreased 10.14% over the past 24 hours, bringing it down to $0.00001 amid a major market crash.
In a pullback, PEPE has posted a weekly loss of 15.49%, following the trend of major cryptos like Bitcoin (BTC) , Ethereum (ETH) , and Solana (SOL) , which have also retraced.
Despite this, PEPE is up 10.96% this month, maintaining its impressive annual return of 1,002.53%, far surpassing that of other leading cryptocurrencies .
Notably, the meme coin’s 24-hour trading volume has surged 52.48% to $1.04 billion. This suggests a massive movement among traders, possibly in response to the significant retracement.
The PEPE price seems to be on a downtrend after plummeting in the early hours of the morning.
Notably, PEPE plummeted decisively below the $0.00001049 support level (orange) within hours of a successful recovery. The support failed to hold, indicating increased selling pressure and a possible continuation of the downward trend.
Other indicators support this, such as PEPE’s relative strength index (RSI) (purple) which has fallen from 55 to 30 in the past 24 hours. This suggests increased selling pressure, hinting towards further downside.
Most significantly, the meme coin’s 30-day moving average (yellow) is trending downward, positioned below the 200-day moving average (blue), which is also declining. This suggests persistent downward momentum in both the short and long-term.
Hence, eager investors should consider postponing PEPE due to a strong possibility of further retracements in the near future.
Des
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