PEPE drops sharply – Is this the end of FOMO or just a technical correction?

After a series of hot days of increase, PEPE – one of the most famous meme coins of the year – is entering a correction phase as the price drops over 20% within 72 hours. Many small investors are confused and concerned that the bubble is bursting. However, on-chain data shows that large wallets have not sold out, with some even buying more at the bottom.

The price of PEPE is primarily declining due to short-term profit-taking after an overly strong increase, combined with market sentiment temporarily stabilizing as BTC approaches the $100K area. Nevertheless, the search volume and interaction of PEPE are still among the top – indicating that interest has not diminished.

If it maintains the current support level, PEPE could quickly recover – and even establish a new peak if altseason explodes.

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