The PEPE price is losing its footing today. With today’s 14.80% decline, it surpasses pre-election lows and raises questions about where the top-ranking meme coin will bottom.
What started as a 9.9% drop has proven to be a downtrend with staying power as the market concedes to the bulls, backed by a 97% jump in trading volume to $1.05 billion.
The post-election surge that propelled Pepe to new highs has been entirely erased, leaving it grappling to find support
PEPE Price Analysis: Where Could Pepe Bottom?
The crash leaves PEPE in a discovery zone as it loses the support that has marked its bottoms since mid-2024.
PEPE / USDT 1D chart, falling wedge pattern. Source: Binance.Immediate support at $0.000007 will be key to gauging how far this downtrend can extend.
If a rebound occurs, PEPE could reclaim the long-term support and attempt a breakout from the falling wedge forming since early December.
This case would target $0.000023 for a potential 200% gain from current levels.
Notably, the Relative Strength Index (RSI) has reached the oversold threshold at 30, often indicative of exhausted selling pressure.
Still, the bears remain in control.
The MACD has formed a death cross, dropping below the signal line, while the 50SMA has fallen under the 200SMA—both setups that often precede deeper declines.
The more probable scenario suggests a brief consolidation before falling to the lower support of the falling wedge, marking a bottom around $0.000005.
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