Pepe Price Drops 12% in a Day Amid Bearish Signals | Airdrop Alert Pro

Pepe (PEPE) has faced significant price volatility recently, with the meme token losing 12% in just 24 hours. The decline interrupted a promising uptrend that appeared to be recovering losses from mid-December.

The bearish momentum stemmed from broader market cues, causing PEPE to lose key support. Despite this setback, PEPE investor optimism may limit the coin’s downside potential.

PEPE investors are maturing

Short-term holders of PEPE (STH) have shown significant resilience by converting into medium-term holders (MTH) rather than selling during downturns. In the past two weeks, STH concentrations have dropped from 48% to 19%, a significant drop of 27%. This shift suggests that many investors are optimistic about the long-term prospects of meme coins and are choosing to hold on rather than exit their positions.

The maturity in this PEPE bracket Indicative of growing confidence in the coin’s recovery potential. This sentiment is crucial in maintaining price stability as it mitigates panic selling during bearish phases. It also shows that there is a strong base of committed investors supporting cryptocurrencies.

However, PEPE’s macro momentum has turned bearish, as highlighted by key technical indicators. The Moving Average Convergence Divergence (MACD) is close to a bearish crossover, signaling the end of the recent bullish momentum. This development comes on the heels of a brief bullish crossover that occurred earlier, further underscoring the current downward pressure.

This shift in momentum is consistent with broader market conditions, which appear to be weighing heavily on meme coins like PEPE. If these bearish signals persist, they could suppress Price of PEPE Furthermore, it challenges its ability to recover in the short term.

PEPE Price Prediction: Gaining Support

PEPE currently It is trading at $0.00001823 after falling 12% over the past day. This drop occurred after the coin lost support at $0.00002062, highlighting the impact of bearish market conditions.

If the bearish signals persist, PEPE is likely to sink further to test the lower support levels at $0.00001785 and $0.00001696. This situation could extend losses and delay any potential recovery efforts. However, a shift in broader market sentiment towards bullish conditions could provide the momentum needed for a rebound.

Once recovered, PEPE recycling $0.00002062 will be key as support. The move will invalidate the bearish outlook and help the Meme coin recover its 12% loss over the past 24 hours. Such a rally would reaffirm investor confidence and set the stage for further upward momentum.