Key Insights:
- PEPE coin price prediction suggests a potential 18% price drop could occur in the future.
- With the recent dip, PEPE has lost 20% of its value and also lost its support from the key level and the 200 EMA.
Amid the ongoing market uncertainty, the Pepe coin price prediction suggests that the meme coin is likely to continue its downward momentum in the coming days. The daily chart reveals that the coin has recently broken down from an ascending triangle pattern, not only reaching its target level but also breaching a key support level, further confirming the bearish outlook.
PEPE Loses Its Key Levels
There have been three consecutive red days during which the PEPE price has lost 20% of its value, dropping below the 200-day EMA and a key horizontal support level at $0.00001125.
Following the breakdown of these two key levels, sentiment around PEPE has turned bearish and the price appears poised for another 18% decline in the coming days.
Current Price Momentum
At press time, PEPE was trading near $0.0000111 and had experienced a price surge of over 3.20% in the past 24 hours. This surge appears to be a retest of the horizontal level that PEPE recently lost.
However, participation from traders and investors has dropped notably, potentially due to the activation of bearish price action. Data from CoinMarketCap reveals that PEPE’s trading volume during the same period dropped by 40%, indicating lower participation compared to previous days.
Whale Participation Skyrockets
Despite PEPE’s bearish market structure, whale participation in the meme coin has skyrocketed, as revealed by the on-chain analytics platform IntoTheBlock.
According to recent data, transactions ranging from $100K to $1 million and $1 million to $10 million have surged by 183.58% and 271.43%, respectively.
This notable jump in transactions indicates increased whale activity with the meme coin. However, it is not yet confirmed whether this surge is linked to accumulation or a sell-off.
That said, whales and investors often use periods of market fear and negative sentiment as an opportunity to accumulate PEPE at lower prices, perfectly displaying the “buy the dip” strategy.
PEPE Price Action and Upcoming Levels
According to expert technical analysis, the PEPE coin price prediction suggests that the meme coin has turned bearish after losing a key support level.
The daily chart reveals a bearish outlook for PEPE, marked by a large red candle closing below this critical level, potentially confirming the downtrend. Currently, it appears that the PEPE price is retesting the breakdown level, facing strong rejection from the key support-turned-resistance level at $0.0000111.
PEPE Coin Price Prediction
Based on recent price action and historical patterns, if the meme coin remains below the key level, the PEPE coin price prediction suggests a potential 18% price drop could occur in the coming days.
The reason behind this is clear: PEPE has lost both a key support level and the 200-day EMA levels that traders and investors often view as critical support or resistance. In PEPE’s case, both were located at the same price point, intensifying the bearish signal.
Potential Upside Scenario for PEPE
On the other hand, the PEPE coin price prediction will turn bullish only if the meme coin price reclaims or moves above the $0.00001175 level in the future. If this occurs, PEPE could experience a massive upside rally, potentially gaining up to 30% momentum.
Oversold Conditions Signal Possible Relief
At press time, PEPE’s Stochastic stands at 12.63 and 10.50, which indicates that the meme coin is currently in the oversold zone, suggesting a potential short-term reversal or a relief bounce if buying pressure increases.
However, the last time PEPE’s Stochastic reached a similar level, the meme coin recorded a massive upside rally. At that time, the market sentiment was different, and PEPE had broken out of a key resistance level, completely opposite to the current situation, where it has broken down a key support level.