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PEPE Crashes 67%, Is Rebound on Horizon?
In the latest market development, PEPE’s price has plummeted by a staggering 67% in recent trading sessions. As a result, investors are left wondering whether this meme coin will continue its downward trajectory or stage a rebound.
To assess the situation, it is essential to consider the broader market conditions. The current downturn in cryptocurrency markets could be exacerbating PEPE’s decline, as many assets are experiencing significant losses.
Despite the precipitous drop, some analysts suggest that the price of PEPE may not have reached its bottom yet. If Bitcoin and other major cryptocurrencies rebound, meme coins like PEPE might follow suit. On the other hand, if selling pressure persists, PEPE could challenge the $0.0000079 support level. A breach below this threshold may indicate a heightened risk of further price erosion.
It is crucial for investors to monitor market developments closely and consider their options carefully before making any investment decisions.
Source: u.today
