PEPE Price Drops 32% As Bearish Sentiment Looms

Pepe's (PEPE) crypto price has been on a slippery slope, shedding 32% in the last month and breaking a crucial support level at $0.0000078869. With a visible death cross on the technical chart, the outlook appears bleak for the once-popular memecoin.

Read Pepe Price Prediction 2025, 2026 - 2030 

In early December 2024, PEPE hit a high of $0.0000283327, but buyer momentum fizzled out, leading to a bearish trend. The memecoin has since dropped below key EMAs, signaling further weakness. According to TradingView, PEPE’s year-to-date performance shows a 65.48% decline, with a 68.14% drop over three months. The last week alone saw a 16.24% dip.

As per CoinMarketCap, PEPE is currently trading at $0.0000068519, with a 4% intraday drop. Despite the gloomy price action, the trading volume rose by 1.61%, with a volume-to-market ratio of 18.67%, reflecting decent liquidity. PEPE's market cap stands at $2.88 billion, with a 24-hour trading volume of $543.28 million.

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The memecoin’s social metrics also paint a concerning picture. Popularity on platforms like X, Reddit, and Telegram has significantly declined, likely due to the prolonged bearish momentum. Technical indicators aren't providing much hope either. PEPE is trading below its 50-day and 200-day EMAs, with both the MACD and RSI in bearish territory.

TradingView’s technical analysis offers a stark perspective: out of 25 indicators, 14 suggest selling, 7 remain neutral, and only 4 indicate buying, reinforcing a sell signal.

Adding to the turmoil, the official PEPE X account has been compromised. Analyst @pepeeth warned, “‼️The @pepe x account has been hacked. Please ignore all links and tweets until further notice.‼️”

For now, PEPE investors should tread carefully, monitoring technical and social signals for any signs of recovery.