Pepe Price Prediction: Could This Be Turning Point for PEPE?

Pepe Price Decline

Pepe, the popular meme coin, has experienced a significant decline in the past 24 hours due to a strong bearish trend. The coin has fallen below its previous support levels, with its price dropping by 15.15% to $0.000008054 during European trading hours.

Market Activity

According to CoinMarketCap, Pepe's market capitalization has decreased by 15.14% to $3.39 billion. Despite the price drop, trading volume has increased by 42.90%, indicating increased market activity as investors react to the price changes.

Pepe's Price Rally and Decline

In May, Pepe reached an all-time high of $0.00001718. However, since then, the price has plummeted by over 53%. The coin has experienced sharp rises and declines, leading to periods of consolidation.

Price Prediction

The Pepe price has been falling over the past week, dropping below several support levels. If the bearish trend continues, Pepe could potentially reach $0.000007. However, if a bullish trend emerges, it could rise to $0.000009 or even $0.00001 by the end of July.

Technical Analysis

Technical indicators for the Pepe/USDT pair show a bearish market sentiment. The Moving Average Convergence Divergence (MACD) remains below the zero line, indicating a stronger bearish momentum.