PEPE Loses Grip, Drops 25% in a Week, and Becomes the Biggest Loser Among Top Meme Coins
- WBOYOriginal
- 2024-07-12 10:31:09357browse
Following a short bounce in late June, Pepe recovered for a week and entered the $0.000013 range but due to a sudden rejection, it lost steam and started to show signs of weakness. So far, it has lost 25% in a week.
After a brief recovery in late June, Pepe price analysis shows a continuous decline over the past week, dropping to the $0.000013 range. However, a sudden rejection led to a loss of momentum, showing signs of weakness. Pepe price has decreased by 25% in a week.
Continuing the overall crypto market clampdown, Pepe price declined by another 13% today, making it the biggest loser of the day among the top five meme coins by market capitalization. Pepe price appears weak and is set for a further drop on the daily chart.
Pepe price broke below the psychological $0.00001 level earlier this morning and is now approaching a key support level of $0.0000092. However, judging by the current momentum, the meme coin may fail to hold on above this key support level.
If this scenario unfolds, it could lead to a sharp drop in the market. The next key target to watch for drops is April’s surge level. But if the mentioned support contains the selling pressure, a strong bounce above it could trigger an induction to bring the bull back into the game.
Recent market speculations and sentiments around the crypto market may be suggesting further sell-offs. However, it's worth noting that Pepe price analysis from a long-term perspective shows a promising future for Pepe as its bullish trajectory remains intact.
PEPE Key Levels To Watch
Losing the $0.0000092 support could activate a further drop to $0.0000076 and $0.000006. In case of a further dip, the $0.000002 level would be the next support to watch.
The $0.0000108 level that flipped as support is now crucial resistance for a retest, followed by the $0.0000135 resistance, where it reinitiated the ongoing sell-off last week. Above it lies $0.000016.
Key Resistance Levels: $0.0000108, $0.0000135, $0.000016
Key Support Levels: $0.0000092, $0.0000076, $0.000006
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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