Pepe Coin (PEPE): Potential for Recovery After Sharp Decline 📉🚀
The price of Pepe Coin (PEPE) has fallen over 70% since its peak in December, erasing much of the gains from 2024. However, there are reasons to believe in a potential recovery. Check out the highlights:
Current Scenario:
Current Price: $0.0000084.
Decline: More than 70% since the peak of $0.00002828.
Positive Technical Indicators:
"Falling Wedge" Pattern:
Formed by two descending trend lines that are converging, indicating that the bearish momentum is weakening.
Could lead to a strong upward movement if broken.
Bullish Divergence in RSI and MACD:
The RSI and MACD are showing signs of bullish divergence, suggesting a possible reversal.
Potential Target: $0.00002828 (up 245%).
Fundamental Factors:
Rotation of Meme Coins from Solana:
Concerns about scams ("rug pulls") in the Solana meme coin ecosystem may lead investors to migrate to more established tokens, such as PEPE.
Support from Whales:
17% of PEPE whales have never sold their coins, showing confidence in the recovery potential.
The number of holders has increased to 406,000, indicating possible accumulation.
Conclusion:
Despite the recent decline, PEPE shows technical and fundamental signs that suggest a possible recovery. Keep an eye on the breakout of the "Falling Wedge" pattern and the increasing interest from major investors!
