- PEPE Memecoin faces prolonged bearish momentum, trading below key EMAs with weak social metrics.
- Indicators suggest a sell signal as PEPE price drops 32% in a month, showing bearish dominance.
Pepe’s crypto price is facing bearish momentum and has dropped 32% over a month. It has already broken its crucial support level of $0.0000078869. Moreover, a death cross is also visible on the technical chart, showcasing bearishness.
In early December 2024, PEPE hit a high of $0.0000283327, but the price halted as buyers failed to maintain the bullish momentum. From then, the price is in the bearish momentum break below the key EMAs.
As per the tradingview data, the PEPE price has been in bearish momentum for a prolonged time. The year-to-date PEPE price is down by approximately 65.48%, and over three months, it is down by 68.14%. Last month, it decreased by almost 32% and last week it was down by 16.24%.
According to CoinMarketCap data, at the time of writing, the PEPE price is trading at $0.0000068519 with an intraday drop of 4%, indicating bearishness. The daily trading volume has surged by 1.61%, and the volume-to-market ratio is 18.67%, suggesting good liquidity. Furthermore, the market cap is $2.88 billion, and the 24-hour trading volume is $543.28 million.
Will PEPE Memecoin Bounce Back?
PEPE social metrics have also shown a significant drop in recent months, demonstrating its decreasing popularity in social media platforms like X, Redditt and Telegram. The reason behind the decrease in social volume and social dominance is correlated with the prolonged bearishness in the PEPE price.
Key indicators are also showcasing solid weakness in the price. It is trading below the 50-day and 200-day EMA levels, indicating a bearish trend. The MACD and RSI of the PEPE chart are also in the bearish territory.
Additionally, the trading view technical summary also indicates bearishness. As per the technical summary of PEPE crypto, out of 25 indicators, 14 are on the sell side, 7 are on the neutral side, and 4 are on the buying side, suggesting a sell signal.
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