Crypto analyst Ali Martinez warns that the memecoin Pepe (PEPE) could plummet by up to 54% after breaking below a crucial support level.
Price Action
PEPE is currently trading at $0.0000058, significantly below Martinez’s support level of $0.00000664. A 54% correction from this level could send PEPE as low as $0.000003.
Coinbase Listing Impact
The memecoin’s decline has continued despite Coinbase International Exchange adding support for PEPE perpetual futures.
Bitcoin Outlook
Martinez also notes that Bitcoin (BTC) could face liquidations of $23 million on Binance if it rallies to $71,700.
