Memecoin

Momentum

PEPE

The post <a href="https://coinpedia.org/price-analysis/has-memecoin-mania-over-when-will-pepe-price-regain-the-lost-momentum-to-reclaim-0-0001/">Has Memecoin Mania Over: When Will PEPE Price Regain the Lost Momentum to Reclaim $0.0001?</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a> 
While the crypto markets have been crashing since the beginning of the day’s trade, the memecoins have also lost control over the rally. The popular ones are facing massive pullbacks of over double-digit margins. Pepe’s price also appears to be in huge distress, as the token has been failing to rebound after a steep correction. Does this imply that the token has fallen into a deep bearish trend or is waiting for the right time for a rebound? 
Ever since the Mt. Gox terror has stroked the crypto markets, the popular tokens have faced extensive bearish heat. <a href="https://coinpedia.org/news/bitcoin-price-today-whale-selling-and-market-fear-hit-btc-price/" target="_blank" rel="noreferrer noopener">Bitcoin slipped below $54,000</a>, which shook the entire crypto market, including memecoins like <a href="https://markets.coinpedia.org/pepe/" target="_blank" rel="noreferrer noopener">PEPE</a>. The price has experienced a 30% pullback since the start of the month as the token fails to hold the lower support of the bullish pattern. With this, bearish targets get activated, as they could try to slash the price by another 15% to 20%.&nbsp; 
After testing the lows below $0.000008 a couple of times this month, will the Pepe price initiate a rebound or test new lows? 
<figure class="wp-block-image">
 <img decoding="async" src="https://lh7-us.googleusercontent.com/docsz/AD_4nXfczSuIrtqjvE-rlgxHJ_dECUxVtUJBWL6sjgRlduaqH60G98C2UOpazQGAozpvJbIqyX_sOB-lWlil2PfErHQ8xT-VI9JdruFAtfIS5EpchL4vCaffHfc46ER52WWqHaSfvtqNmP4JEo0-TxOxo5pPIGqL?key=1A0vcepuQJWIr18JnBs1Aw" alt="">
</figure> 
Until the bearish trend struck the markets, the <a href="https://coinpedia.org/price-prediction/pepecoin-pepe-price-prediction/" target="_blank" rel="noreferrer noopener">PEPE price</a> traded finely within an ascending parallel channel. After losing support, the token is now stationed between a couple of pivotal zones and a move towards either of them may confirm the next price action. The selling pressure continues to intensify over the token, as indicated by the draining MACD. The price is hence speculated to drop to the lower support below $0.000007 at around $0.0000065, which may trigger a rebound as it did before.&nbsp; 
The market participants now appear to have turned pessimistic about the next price action, due to which the Pepe price is expected to remain stagnant for some more time. It may certainly not rebound finely and enter the parallel channel but it will hold itself strong above the pivotal support zone, which may keep up the hopes of a bullish trend in the coming days.&nbsp; 
Read Also : <a href="https://coinpedia.org/news/crypto-investment-sees-surge-among-young-adults-predicts-massive-wealth-transfer/" target="_blank" rel="noreferrer noopener">Crypto Investment Sees Surge Among Young Adults, Predicts Massive Wealth Transfer</a>

Has Memecoin Mania Over: When Will PEPE Price Regain the Lost Momentum to Reclaim $0.0001?

CoinPedia News

Autres articles publiés le 8 juil. 2024

PEPE’s future looks uncertain as bulls, bears surrender – What now?

Action Needed from Ripple (XRP) Holders Beyond Hoping for Price Recovery – Expert

Crypto: Here’s How Many People Own 1 Million XRP!

$NUMMUS Token - When Blockchain Meets Online Casinos (while Rewarding Users)

ETFSwap (ETFS) Goes Viral On Twitter And Reddit, Outpaces Dogecoin (DOGE) And Shiba Inu (SHIB) In...

The Rise Of BazedBet In The Online Betting World

Join our free newsletter for daily crypto updates!