Pepe Coin’s Big Dip: Will It Bounce Back?

Pepe coin has taken a massive hit lately, dropping a whopping 67% from its all-time high. But is this the end, or just a temporary setback?

A Pattern Emerges

One analyst noticed something interesting: Pepe seems to follow a pattern. After each peak, it typically drops about 64% before bouncing back. This happened a few times already in 2024.

  • March-April 2024: A 63.75% drop, followed by a recovery.
  • May-July 2024: A 66% drop, followed by another recovery.

This 64% drop seems to be a key support level.

The Current Situation

Right now, Pepe is trading near its 50-week exponential moving average (EMA), a crucial support level. If it can hold above this EMA, it might signal a recovery. However, a break below could mean further price drops.

The recent 24-hour drop of 25.3% (part of a wider crypto market downturn) has pushed Pepe about 15% below the 50-week EMA. This is a worrying sign.

What’s Next?

The overall crypto market is down, which isn’t helping Pepe. If the selling continues, Pepe could fall even further.

But there’s still hope! A quick market recovery could see Pepe bounce back, potentially retesting the $0.00001313 resistance level. It all depends on whether the broader crypto market recovers and if Pepe can hold above its key support level. The next few days will be crucial.