Will Pepe Coin Price Crash Another 30% in February?

The crypto market took a hit during Tuesday’s U.S. trading hours, with Bitcoin showing signs of a potential drop below $95,000. Pepe Coin also faced turbulence, raising concerns about further declines.

Key Points:

Pepe Coin's long-term uptrend is supported by a rising trendline.

A potential death cross between the 50-day and 200-day EMA could accelerate selling pressure and deepen the downtrend.

PEPE futures open interest (OI) has plummeted 55%, from $555.4 million to $250 million, signaling reduced speculative activity.

PEPE Futures Show Extreme OI Reduction

According to CoinGlass, PEPE futures OI has dropped sharply from $555.4 million to $250 million over the past two weeks—a massive 55% decline. A significant drop in OI suggests that traders are exiting leveraged positions, either through liquidations or voluntary closures. This indicates waning speculative interest and potential market cooling.

Price Analysis: Will PEPE Hold or Drop Further?

Over the last three weeks, Pepe Coin’s price has tumbled 59%, falling from $0.000021 to $0.00000962. As a result, its market capitalization shrank to $4 billion. The declining price has slipped below the 20, 50, 100, and 200-day EMAs, reinforcing the growing bearish sentiment.

However, a long-standing ascending support trendline—in place since April 2024—has halted the decline, causing the price to stabilize around $0.00000875. This trendline has historically provided buyers with much-needed momentum for a bullish recovery. If this pattern holds, Pepe Coin could rebound above $0.00001, and potentially challenge the descending trendline at $0.000027.

On the flip side, if PEPE breaks below this critical support, bearish momentum could intensify, triggering a 30% decline to $0.00000630.

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