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The increasing selling pressure and the red market seem to have affected PEPE, one of the most popular meme tokens. PEPE buyers are currently stuck at a specific support level, and they are unable to generate enough volume to break through it. Additionally, the PEPE price analysis and chart indicate a lack of optimism for PEPE investors.
PEPE Price Analysis
Looking at the PEPE price, it can be seen that the $0.0000088 support actually halted the ongoing correction. In the event of a potential reversal, the price could be expected to rise by 36% from this support level. When looking at the 24-hour trading volume, PEPE has a volume of $48.6 million, indicating a 27% decrease. Although PEPE may lose the possibility of a rise with lower volume, there are still possibilities for a trend reversal.
On August 25th, the PEPE Coin price dropped to $0.00000082, effectively putting an end to the July rally. This support level was not broken, preventing a further decline to $0.75.
Currently, the $0.0000008 level is crucial for PEPE, and a similar pullback as seen in the previous sharp decline could occur below it. The RSI is currently slowing down below the 50 level, and the number of signs indicating a possible trend reversal is increasing. The 100-day EMA continues to reach its target point, potentially acting as dynamic resistance to the current downtrend.
PEPE Price Targets
The direction of PEPE’s price is directly influenced by BTC. BTC is holding at the $26,000 support and continuing its sideways movement. If PEPE Coin falls below $26,000, it may react and lose its current support. In such a case, the next levels could be $0.0000007 and then $0.00000064. To reverse the trend, PEPE coin may need to remove another zero and close above $0.00000093.
