Quick Summary
- PEPE Coin fell over 10% in the last 24 hours, from $0.00001519 to $0.00001360.
- Despite the drop, analysts consider this a possible “higher low” in a continued uptrend.
- Price broke below the ascending channel and 23.6% Fibonacci level, sparking concern.
- Technical indicators show weakening momentum (RSI dropped to 48, MACD turned bearish).
- Key support levels to watch: $0.00001335, $0.00001237, and $0.00001139.
- Market volatility and Bitcoin pullback also contributed to the decline.
- Market cap now at $45.88 billion, with trading volume down 33% to $1.76 billion.
- If PEPE reclaims $0.00001456, bulls may attempt another run toward $0.00001600.
PEPE Coin Takes a Breather Amid Market Volatility
PEPE Coin, one of the most popular meme tokens, faced a sharp 10% dip over the past 24 hours—dropping from $0.00001519 to around $0.00001360. At the time of writing, the coin is trading near $0.00001400. While this sudden pullback might raise concerns for short-term holders, market analysts see it as part of a healthy correction within a larger bullish trend.
What’s Behind the Decline?
Broken Support: Ascending Channel Breach
On the 4-hour chart, PEPE Coin has broken down from its month-long ascending channel, a structure that had supported its uptrend. It also slipped below the 23.6% Fibonacci retracement level at $0.00001456, a key support zone. This breakdown has made many short-term traders cautious. Technical Indicators Flash Warning
- RSI (Relative Strength Index) fell to 48, the lowest since April—showing momentum weakness.
- MACD (Moving Average Convergence Divergence) turned bearish with a growing negative histogram, signaling increasing selling pressure.
Market-Wide Impact from Bitcoin’s Dip
The broader crypto market experienced volatility after Bitcoin briefly touched an all-time high near $112,000, only to crash back to around $107,000. This led to corrections across several altcoins, including meme coins like PEPE.
As a result:
- PEPE’s market cap fell by about 5%, now standing at $45.88 billion.
- Daily trading volume plunged nearly 33% to $1.76 billion, indicating traders are waiting for confirmation before jumping back in.
Support Levels to Watch Closely
Despite the drop, PEPE Coin still maintains strong community backing and speculative interest. If the price holds and rebounds above $0.00001456, the recent fall could be a temporary shakeout.
Key Support Zones
| Level | Description |
|---|---|
| $0.00001335 | 38.2% Fibonacci support |
| $0.00001237 | 50% retracement level |
| $0.00001139 | Golden Pocket (61.8%) – known for strong bounces |
These support levels will likely determine whether PEPE can continue its broader bullish trend—or enter a deeper correction.
Is This Just a Higher Low?
Many crypto analysts believe the current dip could be a “higher low”—a bullish pattern where the price briefly drops before moving higher. But for this outlook to hold, PEPE must maintain key supports and regain upward momentum.
(Source: TradingView)
Outlook: Consolidation or Continuation?
Right now, PEPE sits at a crossroads. The recent breakdown has dampened short-term enthusiasm, but the bigger trend remains bullish if crucial levels hold. A breakout back above $0.00001456 could spark the next move toward the recent high of $0.00001600.
Conclusion
While the drop in PEPE Coin price has caused a stir, the correction may simply be part of a larger bullish structure. If support zones remain intact and buying resumes, PEPE could quickly recover lost ground. Keep an eye on technical levels and broader market sentiment in the coming days to gauge the next move.