when

PEPE

Drops

Daily

<ul>
 <li>Memecoin, PEPE has witnessed a notable price drop of 10.20% of daily decline.&nbsp;</li>
 <li>The token’s outflows recorded $3.96 million in the last 24 hours according to Coinglass data.</li>
</ul>
The cryptocurrency sector is still wading through a market crash this week, as leading currencies resist market recovery attempts. In the midst of large tokens, memecoins have also witnessed price downfalls. Frog-based memecoin PEPE caught investor attention for its significant price drop in the last 24 hours. The token has recorded 10.20% daily declines in price and is one of the top losers of the day.&nbsp;
Moreover, at last week’s beginning, PEPE was trading at a weekly high of $0.00001193 having already incurred price drops over the past month. The overall crypto market’s price drop fueled a bearish trend in PEPE as well. Over the past seven days, the memecoin has recorded a 29.62% decline in market price. At the time of writing, PEPE was trading at $0.00000842.&nbsp;
Zooming out, over the past month, PEPE price slid down by a profound 34.32%. With its short-term 9-day MA standing below the long-term 21-day MA, the token clearly indicates a bearish takeover. Meanwhile, its year-to-date (YTD) price hike remains unaffected at 546.15%.&nbsp;&nbsp;
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfRVDyLC0DPQcpi_D9MEpJlDP0ea52si-6YrMPCrZnyjl3o6bOPKRW4Jh5X0gDH3pGZAOEB_lUR5gfRdgztZOnZs8c5XhSQ0A731xo7iO19UcrBZaSP2hRDaoTeULadiBlGrIcStBCWVOcrjR5jVAa_QMZ_?key=ur_-KB91akEy1jXyZ0_rNQ" alt="">
 <figcaption class="wp-element-caption">PEPE/USDT Daily Price Chart (Source: <a href="https://in.tradingview.com/symbols/PEPEUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Additionally, the token’s RSI stands at 34.26 indicating the strong selling sentiment per TradingView reports. According to Coinglass <a href="https://www.coinglass.com/LiquidationData" target="_blank" rel="noopener noreferrer nofollow">data</a>, PEPE, in the last 24 hours recorded $3.96 million outflows approximately.&nbsp;
<h3 class="wp-block-heading" id="h-pepe-24h-price-analysis">PEPE 24H Price Analysis</h3>
According to CMC <a href="https://coinmarketcap.com/currencies/pepe/" target="_blank" rel="noopener noreferrer nofollow">data</a>, the PEPE daily price chart shows that the token was trading at the $0.0000090 level on July 7. As the day progressed, the memecoin showed modest price declines hitting an intra-day low of $0.000009085. Meanwhile, its daily trading volume has shown a 15.40% increase.&nbsp;
However, in the early hours of July 8, PEPE slid down to trade at $0.0000089 levels and as the day progressed it showed an increasing bearish takeover. The prices fell to find support at $0.0000083. Moreover, it hit a 7-week low of $0.00000775 momentarily in the last 24 hours.&nbsp;
Thirdly, when questioning where the PEPE price is headed in the coming weeks, market analysts continue to hold a positive outlook toward an upward movement in price. Additionally, TheNewsCrypto analysts have <a href="https://thenewscrypto.com/pepe-pepe-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">predicted</a> that PEPE will hit a bullish price of&nbsp; $0.00004965 in 2024.&nbsp;
Finally, amid the overall market crash, <a href="https://thenewscrypto.com/u-s-spot-bitcoin-etf-inflows-surge-as-investors-capitalize-on-market-dip/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin ETFs</a> were one of the few digital assets that saw inflows as investors are taking advantage of the price dip.&nbsp;
Highlighted Crypto News Today:&nbsp;
<a href="https://thenewscrypto.com/3m-worth-pendle-whale-transfer-heightens-its-selling-pressure/" target="_blank" rel="noopener noreferrer nofollow">3M Worth PENDLE Whale Transfer Heightens Its Selling Pressure</a>

PEPE Price Drops as Bears Take Control Amid Market Crash

Table of Contents

TheNewsCrypto

Other articles published on Jul 8, 2024

Premier Layer 1 Crypto BlockDAG Hits 12B Coin Sales; Positive Outlook for Chainlink and Injective

Peter Schiff Claims Bitcoin Whales Set Up ETF Investors As “Bag Holders”

Bitcoin (BTC) Started the New Week with a Decline! What is the reason for the decline?

Taiwan’s Central Bank to Test CBDC in Three Scenarios: Yang Jinlong

Riot Platform Launches New Website ABetterBitfarms.com

MoonBag Presale Garners Investor Focus as Chainlink and Bonk Address Internal Issues

Join our free newsletter for daily crypto updates!