Pepe Coin, a well-known cryptocurrency, continues to be in a bear market following significant price drops. This article examines the current status of the coin, potential recovery signs, and technical analysis.
Current State of Pepe Coin
Pepe Coin has dropped to a low of $0.0000090, bringing its market capitalization to approximately $3.86 billion, down from its all-time high of $10 billion in March.
Signs of Recovery
Despite the overall decline in the cryptocurrency market, Pepe Coin is showing some bullish signals. Whale holdings have increased by 7.20% over the past month, rising to 7.61 trillion tokens. Additionally, the top 100 PEPE addresses have grown their positions by nearly 4%, suggesting that investors anticipate higher prices.
Technical Analysis of Pepe Price
From a technical perspective, Pepe Coin is forming a falling wedge pattern, which may indicate a potential rebound. The Relative Strength Index (RSI) is nearing oversold territory, suggesting that the current downtrend may be close to exhaustion. If this pattern resolves to the upside, Pepe could rally toward the key resistance level at $0.000015.
While Pepe Coin is facing challenges in the current market downturn, recovery signs such as whale accumulation and technical indicators may form the basis for future growth.
