Under a bearish market, cryptocurrency PEPE has faced a significant price decline. Nevertheless, trading volume has risen, indicating increased investor interest.
Impact of Bearish Market on PEPE
Recently, the cryptocurrency market witnessed widespread panic selling following the Bybit breach. Bitcoin fell to $88,000 for the first time in 2025, initiating a sharp decline in altcoin prices, including the prominent memecoin PEPE. Recently, PEPE dropped by 11.50% to reach $0.000007, marking a significant decrease following its recent recovery.
Current Price Situation of PEPE
On the evening of February 24, PEPE was trading at $0.000008951, after which bearish candlesticks dragged the memecoin down to an intra-day low of $0.000007411. At the time of reporting, PEPE was priced at $0.00000790 as per CMC. Over the week, PEPE has depicted a decline of 19.34%, with most of the drop occurring in the last day.
Potential Recovery for PEPE
Analyzing PEPE's recent price actions, a horizontal pattern is noticeable, indicating consolidation. This could lead either to a further decline or a price breakout. Analyses show its bull power indicator value at 0.63 and bear power at -14.04, highlighting a clear dominance of bears. With an RSI of 31.92, the situation is oversold, pointing to a need for strong bullish momentum for recovery.
PEPE has succumbed to strong bearish pressure, requiring substantial market support for recovery. Other altcoins like Raydium and XRP are also experiencing similar bearish trends.
