Pepe Coin extended its downward trend on July 30 as broader meme coin markets continued to weaken. The token has now entered its second consecutive week in the red, following a steady decline from recent highs.
The weekly price chart shows a formed head-and-shoulders pattern, a classic bearish signal. The head peaked at $0.00002815, while both shoulders formed at around $0.00001700. The neckline is established at $0.000005678. This configuration suggests a sharp correction could follow if prices fall below the neckline. Based on standard technical projections, the estimated downside target could reach as low as $0.000001092. This would represent a drop of approximately 90% from current levels.
