PEPE Price Hits 6-Month Low; Recovery Delayed Further
Pepe continued downward trajectory to hit a six-month low of $0.00000670. The ongoing loss of meme coins has greatly eroded investor confidence and even brought uncertain holders back.
The expanded shrinkage creates a challenging environment where sentiment remains the vast majority of bearish.
Pepe investors are losing hope
In the past month, short-term holders (STHs) have exited the market. Their participation has dropped from 11.5% to 7%, down 4.5%, reflecting a reluctance to interact with PEPE at current price levels.
this Long-term downward trend Disheartened as any recent investment has resulted in losses.
Generally, the presence of lower STH can be regarded as a stabilizing factor, reducing volatility. However, this situation emphasizes rising pessimism Pepe Investors.
The lack of new inflows and reluctance of holders who are reluctant to reenter indicate that emotions remain vulnerable, further delaying any potential recovery.
Pepe’s macro dynamics Still weak, technical indicators signal to convey persistent bearish conditions. this Relative Strength Index (RSI) Staying in the bearish zone for more than a month indicates continued sales pressure.
The lack of upward momentum shows that recovery is still impossible in the short term.
In addition, wider market conditions have exacerbated Pepe’s decline. Without a shift in macroeconomic or crypto market trends, the meme coins may remain under pressure. The bearish advantage is expected to persist until a critical resistance level is violated.
Pepe’s downward trend continues
Pepe’s price It has dropped to $0.00000670, holding key support above $0.00000632. Meme Coin’s four-month downward trend sat for six months and showed no signs of a reversal. If bearish pressure continues, Pepe may lose support and sink further.
A violation of $0.00000632 may cause Pepe to fall below $0.00000600. This could further increase the loss, pushing the price to the next supported price at $0.00000587. Without a strong reversal, Pepe may continue its downward trajectory, deepening investors’ losses.
The only way to invalidate this bearish outlook is Pepe takes it back $0.00000951 is a key resistance as support. A successful breakthrough above this level will increase the chances of meme coins returning $0.00001000.
However, before this happens, Pepe must first violate $0.0000718 and $0.00000839, both key resistance levels on the way to recovery.
Disclaimer
and Trust Project Guide, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Beincrypto is committed to accurate and impartial reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our terms and Conditions,,,,, Privacy Policyand Disclaimer Updated.
