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$PEPE is trading at $0.0000067. Trading volume is down over 14%. After a series of declines, the crypto market is attempting to bounce back, but is facing rejection with mixed signals lingering in the market. Meanwhile, the meme coin’s market cap is currently holding at around $60.9 billion, after a 1.6% loss. Among them, PEPE, the frog-themed meme token, has registered a modest drop of over 2.34%. In the early hours, the meme coin was trading at $0.000006969, and with the bearish turnover, the price has been sent to a bottom range of $0.000006523. Upon the asset’s bearish pressure gaining more traction, it would push the price down to its former support zones. At the time of writing, $PEPE traded within the $0.000006765 zone, as per CoinMarketCap. With the market cap staying at $2.84 billion, the meme coin’s daily trading volume has plunged by over 14.24%, reaching the $472.42 million mark. The Ali chart shows $PEPE forming a classic Head and Shoulders pattern, a bearish reversal signal. The price recently broke below the neckline, and if the breakdown continues, it could drop to the $0.00000185 range, following the projected downside from the pattern. 🔸Will PEPE Continue Its Downward Slide? While zooming in on PEPE’s technical chart, it reveals a negative sentiment. The Moving Average Convergence Divergence (MACD) line is settled below the signal line, indicating bearish momentum. As both lines are below the zero line, it confirms that the overall trend is weak. $PEPE chart Besides, the meme coin’s Chaikin Money Flow (CMF) indicator, found at 0.05, suggests a slight positive buying pressure in the market. There is a mild accumulation happening, with the money flowing into the asset, but not strong enough to form a solid uptrend. PEPE’s downside correction might trigger the price to test the support at the $0.000006755 range. With the emergence of the death cross could happen, a subsequent crucial support can be below $0.000006745. If the bullish wave takes over the control of PEPE, the price may climb toward the $0.000006775 level. The golden cross formation with more bullish pressure could lead the meme coin price above $0.000006785. $PEPE chart Moreover, the market sentiment of PEPE is a neutral-to-weak zone, leaning slightly toward the bearish side, as the daily Relative Strength Index (RSI) rests at 42.69. The meme coin’s Bull Bear Power (BBP) value of -0.00000020 implies bearish momentum. Notably, the sellers have a slight edge, but the difference between buying and selling pressure is minimal; the market is holding the bearish bias.

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PEPE Price Faces Fresh Decline as Technical Indicators Signal Continued Weakness PEPE trading at $0.00 with a 2.1% daily decline as bearish technical indicators dominate the meme coin's outlook, with 88% of signals pointing toward further downside pressure.

🐸 Top reasons Pepe Coin price is at risk of a steeper crash Pepe Coin’s price has dived by 76% from its November high into December, and a combination of technical and fundamental factors points to a steeper crash in the near term. 🔸 Pepe Coin price technicals hints at further downside Pepe Coin (PEPE) token has plunged in the past few weeks, moving from a high of $0.00001667 in May to the current $0.0000067. The price has moved below the key support at $0.0000091, the lower side of the descending triangle pattern. Also, the token has dropped below the 50-day and 200-day moving averages. The price has remained below both averages after forming a death cross pattern on August 27. One of the top technical risks is that Pepe Coin’s price has been forming a head-and-shoulders pattern since March last year. This pattern’s head was at $0.00002840, while the shoulders were at $0.00001692. The neckline was at $0.0000057. Therefore, the most likely Pepe price forecast is bearish, with the initial target at $0.000005754. A plunge below that level will point to further downside, potentially to this month’s low at $0.000002793. The bearish Pepe Coin price prediction will become invalid if the price moves above the key resistance level at $0.00000911. 🔸 Falling demand and whales exiting Fundamentals also suggest that the coin has more downside in the near term. For example, Nansen data suggests that whales and smart money investors have dumped their tokens recently. Whales have reduced their holdings by 20% in the last 30 days to 4.89 trillion. They held over 6.13 trillion tokens at the highest level in September. Public figure investors have continued to dump their tokens, a sign that they expect the crash to continue. They hold 91.94 billion tokens, down from 92.5 billion last week and 100.8 billion at the highest level in September. Smart money investors have also sold their Pepe tokens, reducing their holdings by 38% in the last 30 days. #PEPE #Pepecoin