Why has the price of PEPE dropped?
Pepe (PEPE) fell by 1.74% in the last 24 hours, extending its decline over 7 days (-7.69%) and its drop over 30 days (-38.53%). This decrease coincides with the overall weakness of the crypto market (total market cap -1.56%) and an extreme fear sentiment. Key factors:
Signs of capitulation – More than 8 trillion PEPE (over 32 million dollars) have been sold on exchanges this month, according to Nansen.
Meme sector decline – SHIB, Fartcoin, and Bonk have also dropped more than 70% from their annual highs.
Technical breakdown – The price is below all key moving averages (SMA 7D: $0.00000443) and a critical Fibonacci support.
PEPE
Alpha
--
--