The meme coin PEPE demonstrates a slight price recovery, yet its long-term prospects remain questionable amid overall bearish market sentiment.
PEPE Price Overview
Recently, PEPE experienced a 2.67% uptick, reaching $0.00001115, bringing hope to bullish traders. However, analyst Crypto Man MAB emphasizes that the long-term outlook remains under pressure. Over the past week, PEPE has declined by 2.79%, and in the past 30 days, its value has fallen by 15.9%. A significant concern for long-term holders is the 54.12% drop over the last 180 days.
Trading Volume and Speculative Moves
PEPE’s 24-hour trading volume recently reached 12.97 trillion tokens, valued at approximately $143.83 million. While this suggests a moderate level of activity, Crypto Man MAB notes that it does not indicate a strong bullish surge. The volume displays spikes that typically occur after brief price fluctuations. Technical analysis also indicates support close to $0.00001069 and resistance at $0.00001133.
Potential for Further Growth of PEPE
Despite the recent uptick, analysts remain cautious. The overall market trend is still bearish, making short-term price fluctuations uncertain. Meme coins like PEPE often attract speculative traders, but the current competition with Dogecoin and Shiba Inu stifles growth potentials. Community support and active social media presence may aid in reversing broken trends.
PEPE continues to grapple with bearish market sentiment. While short-term fluctuations may indicate a potential recovery, further growth will depend on overall market conditions and trader actions.
