PEPE price reached a new high, but then profit taking beganThis week, the price of the popular memecoin PEPE increased significantly, setting a new all-time high.

However, as often happens after rapid growth, investors began to take profits, which could cause a significant correction.PEPE sales amid rising pricesThe price of PEPE broke through an important resistance level at $0.00001007, allowing the coin to reach a new high.

This growth has prompted many crypto enthusiasts to start selling.Realized gains for PEPE holders hit a two-month high, according to analytics platform Santiment.If selling pressure continues to increase, memcoin could see a significant decline.Increase in profits of network participantsCurrently, more than 40% of network participants are in profit, which is a record figure for active PEPE addresses.

PEPE price forecast: possible fallPEPE price is now trading at $0.00001020 after hitting a new all-time high.A breakdown of the support level at $0.00001007 could lead to a decline to $0.00000900.If this level does not hold, a correction to $0.00000750 is possible.However, if PEPE holders decide to hold on to their coins in hopes of further growth, the asset has a chance to recover.A rebound from the $0.00001007 level could allow the price to return to peak values, refuting the bearish scenario