Pepe Coin Faces Steep Decline: Technical and Fundamental Factors at Play
Pepe Coin (PEPE) has seen a significant drop in value, falling 76% from its November peak. several factors suggest the token may continue its downward trend.
Technically, Pepe Coin has formed a head-and-shoulders pattern, a bearish signal. The price has also broken below the descending triangle pattern’s lower boundary. This indicates further potential losses.The token is now trading below its 50-day and 200-day moving averages, reinforcing the bearish outlook.
Key support levels have been breached, with the price now hovering around $0.0000067. If it falls below $0.000005754, it could drop further to $0.000002793. Tho, a move above $0.00000911 could invalidate the bearish forecast.
On the fundamental side, demand for Pepe Coin is waning. Whales and smart money investors have been selling off their tokens. In the past 30 days,whale holdings have decreased by 20%,while smart money investors have reduced their holdings by 38%.
Othre indicators point to reduced demand. The futures open interest has dropped sharply, and daily trading volume has plummeted. These signs suggest that the coin’s appeal is fading.
For now, the outlook for Pepe Coin remains bearish. Investors should stay cautious and monitor key levels.
