PEPE Meme Coin Shows Resilience in a Declining Crypto Market

PEPE Meme Coin Exhibits Resilience Amidst Crypto Market Decline

Cryptocurrency markets have experienced a downward trajectory, yet one meme coin has remained largely unaffected: Pepe (PEPE). On May 10th, despite increased selling pressure, PEPE's price showed no signs of waning.

Current State of PEPE Price

PEPE's price movement has gained significant momentum, potentially surpassing its March 14th peak. This indicates that PEPE has outperformed many altcoins. Over the past month, PEPE has surged by 134%, demonstrating its potential for further growth.

Currently, PEPE's price oscillates between $0.00581 and $0.0108, hovering around the midpoint of $0.00835. This movement is supported by bullish indicators such as the Daily Relative Strength Index (RSI) and Awesome Oscillator (AO), which exceed 50 and 0, respectively. These metrics suggest a strong uptrend and increasing momentum.

Bullish Outlook

Assuming the overall crypto market outlook remains favorable, PEPE's price is likely to outperform its peers. PEPE could rebound from the $0.00835 level and initiate a 25% rally towards the $0.0108 peak, indicating its strong potential for near-term appreciation.

Invalidation of Bullish Thesis

The bullish thesis for PEPE will be invalidated if its price falls below the May 8th low of $0.00760 on a daily candlestick close. This could trigger a deeper correction and negate the positive expectations for PEPE.

Potential Drawdown

If investors panic and sell their PEPE tokens, its price could drop by approximately 25% to $0.00581. At the time of writing, Pepe coin is trading at $0.00000847.

The original article was first published on COINTURK NEWS: PEPE Meme Coin Shows Resilience in a Declining Crypto Market