Pepe price has dropped 7% in the last 24 hours to $0.000006703 with a significant increase in trading volume by 86% to $1.14 billion. Analysis shows that this slump made PEPE the biggest loser among the top 100 cryptocurrencies by market capitalization.
Pepe Price Decline: Details
Pepe price has dropped 7% over the past day, trading at $0.000006703 with a sharp increase in trading volume by 86% to $1.14 billion. This decline made PEPE the biggest loser among the top 100 cryptocurrencies by market capitalization, according to data from Crypto Bubbles. Dogecoin, Maker, and Ethereum also saw price drops of 6.9%, 6.8%, and 6.6% respectively.
Pepe Gears for a Bullish Rally
The PEPE price chart on the daily timeframe shows a clear formation of a falling wedge pattern, which is generally considered a bullish reversal pattern. According to data from GeckoTerminal, the price is currently trading near the support zone around $0.00006694, which has been tested multiple times, indicating strong buying interest at this level. A potential breakout point is visible, with the price approaching the upper boundary of the falling wedge. If the price breaks above this resistance and confirms a breakout, it could target the area around $0.00015.
Prospects of New Layer 2 Meme Coin PEPU
As Pepe traders look forward to a potential bullish rally, a new Layer 2 meme coin called Pepe Unchained (PEPU) has rocketed past $12.2 million in funds raised in its presale. A key reason for optimism around the token is that whale investors moved on it last week with combined investments worth almost $83,000, driving increased buying activity and pushing total funding since Monday to over $500,000.
The cryptocurrency market continues to remain volatile with sharp changes in prices and trading volumes. Despite recent declines, PEPE has the potential for a bullish reversal, while the new meme coin PEPU shows significant investor interest.
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