Pepe Coin Price To Retest $0.0000140 This Week As Whale Dumping Spikes?

Amid the ongoing market turmoil, the Pepecoin price has recorded a double-digit correction. Reportedly, the drop is witnessed following a whale dump. Moreover, with the price correction, this meme coin is on the verge of testing its important support level.

Will the price of Pepe make a strong bullish comeback this weekend? Or will this memecoin plunge toward its lower support levels? In this article, we bring you the possible short-term market sentiments, price analysis, and possible price targets of the Pepe (PEPE) crypto token.

Pepe Memecoin Retests Its Crucial Support Zone!

The Pepe price has dropped 11.21% in the past 24 hours with a trading volume of $1.94 billion, a change of +61.48%. With this, the memecoin has erased all its gains and currently records a YTD return of -6.89%. With a market cap of $7.65 billion, this altcoin has secured the 24th position.

The EMA 50-day has recorded a bearish convergence in the Pepe price chart, highlighting an increase in the negative influence. However, the 200-day EMA could act as a support to the price trend in the 1D time frame.

Moreover, the RSI indicator drops below the neutral point, suggesting a strong bearish price action for the meme coin in the market. Moreover, with its average trendline experiencing a negative convergence, the Pepe coin price may continue losing momentum this week.

Will Pepe Coin Price Reclaim $0.000020 Mark?

If the bulls hold the Pepe crypto token above its important support of $0.0000180, it will prepare to retest its resistance level of $0.0000220. Maintaining the price above that level could set the stage for it to head toward its upper high of $0.0000250.

On the flip side, an intensified bearish action could result in this memecoin plunging toward its lower support level of $0.0000140 this month.

Wondering if the price of Pepe will achieve a new ATH this year? Read CoinPedia’s Pepe Price Prediction to uncover the mysteries!

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