- PEPE’s recent drop signals a potential 60-70% downside risk for the token.
- The $0.0000059 support level now acts as strong resistance for PEPE.
- PEPE faces increased bearish pressure, though a minor bounce is possible.
PEPE, the popular meme token, is currently trading near $0.00000485 after falling through a crucial support level. This drop marks a significant decline of over 17% in the past week, reaching multi-month lows. Traders and analysts are now closely watching whether the price will continue to drop or if a base is forming for a potential recovery.
Analyst Views on PEPE’s Price Action
Crypto analyst Crypto Patel has pointed out that PEPE’s recent price action has broken through its $0.0000059 support level. This level now acts as resistance, which suggests that the larger trend remains bearish. Patel emphasized that until the price reclaims this level, the high-time-frame trend will remain in favor of sellers.
Patel also noted that a weekly Fair Value Gap (FVG) remains partially filled, and liquidity has been swept under multi-month lows. These factors suggest that further downside movement is possible. According to Patel’s analysis, PEPE could drop as low as $0.00000178, a zone he considers to be of interest for long-term buyers.
Potential for a Bounce Despite Bearish Sentiment
Despite the bearish outlook, there is some potential for short-term upside. On the 1-day chart, the Stochastic RSI has recently formed a bullish crossover, which could lead to a minor bounce in price.
Previous instances of similar crossovers were followed by price rallies, such as a 12% gain on November 6 before PEPE fell again. If this scenario plays out again, a bounce to around $0.00000524 is possible.
However, traders should remain cautious as PEPE’s overall trend remains bearish. The token has struggled to maintain upward momentum since September, when it made a new lower high below $0.00000937.
The bearish crossover of the moving averages and recent selling pressure suggest that the token’s trend is still weighed down by market conditions.
PEPE’s challenges are not unique in the meme coin sector. Other tokens like Dogecoin have also faced significant declines in 2025. For PEPE, the key question remains whether it can regain lost ground above the critical $0.0000059 level or if further downside is ahead.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
