🐸 $PEPE Losing Steam — Is the Hype Finally Fading?

Pepe (PEPE) is showing signs of fatigue after failing to break through a key resistance level at $0.000016 last week. As of Tuesday, PEPE is trading at $0.000013, suggesting that bullish momentum is waning. Momentum indicators are flashing a bearish divergence, often a precursor to trend reversals. Supporting this view, on-chain data shows that pessimistic positions among traders have surged to their highest in over a month, adding weight to the bearish outlook.

Following a 12.19% drop after Friday’s rejection at daily resistance, PEPE staged a modest recovery but remains under pressure. At current levels around $0.000013, the meme coin is vulnerable, and sidelined investors may see this as a sell opportunity.

If the pullback deepens, PEPE could slide to test the next daily support at $0.000012. A break below that could expose $0.000011, aligning with the 50-day Exponential Moving Average (EMA), a level that could act as the next dynamic support.

For now, the bearish thesis remains intact as long as PEPE trades below the $0.000016 resistance. A daily close above that level would be needed to invalidate the current downtrend and shift sentiment back in favor of the bulls.

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