What is the reason for the drop in PEPE coin... And from the image, should you buy the coin now, or sell what you have of it!?
Here is the explanation through the analysis of the current PEPE/USDT image:
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Fundamental data:
Current price: 0.00001304 USDT
24-hour decrease: -5.16%
Highest price in 24 hours: 0.00001415
Lowest price in 24 hours: 0.00001291
Price below MA60 = 0.00001314 (this means a downward trend)
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Technical indicators from the image:
The overall trend is clearly downward, and the price is gradually decreasing with no strong rebound.
Trading volumes do not currently show strong buying momentum.
Today's performance and the last seven days have started to weaken (today only +0.53%) after strong performance over the past 30 days (88%).
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Possible reasons for the drop in the coin:
1. Profit-taking after a strong rise over the past weeks.
2. Selling pressure from large whales.
3. Lack of new positive news to drive the price up.
4. General market volatility or correction in meme coins.
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Should you buy or sell?
If you own the coin:
If you are in a significant profit, it is better to sell partially now to secure profits.
If you are at a loss, I do not advise selling now as the coin may rebound within today or the coming days, especially if rebound candles appear.
If you are considering buying:
I do not advise buying now, as the trend is still downward.
Wait for a strong reversal candle or a clear break above MA60 (i.e., the price stabilizes above 0.00001314).
