An analysis conducted by a financial expert on a popular social media platform provides PEPE with crucial support during its significant price decline from recent peaks. According to historical data, this meme coin typically experiences an average drawdown of roughly 64% after hitting each local maximum value; currently it’s in this crucial retracement phase where its ability to hold onto support could either lead to recovery and potential growth or further losses.
The Pattern of 64% Corrections in PEPE’s Trading History
Price data indicates that PEPE has experienced a dramatic 67.3% decrease since reaching its highest value on December 9, 2024 – including an equally dramatic 25.3% decline just within the last day – reflecting an overall market slump that has had such an impactful effect.
Reiterating a common theme in PEPE’s trading behavior, an analyst observed that after hitting new highs it frequently experiences a 64% pullback before stabilizing and rallying again. This pattern has been highlighted on weekly price charts; showing rapid corrections followed by strong recoveries.
Initial pullback occurred between March and April 2024, where Bitcoin experienced a 63.75% drop following its all-time high in December. Even with such steep drops, however, Bitcoin managed to rebound significantly and reach new peaks eventually. May to July 2024 witnessed another period of bullish momentum which eventually propelled its price up again towards all-time high levels by December.
Analysts stressed the significance of PEPE’s current position around its 50 EMA indicator during these downtrends, pointing out that its trading occurs near this threshold and maintaining above it may help halt further losses; maintaining above this mark would signal potential for rebound while failing could exacerbate sell-off further.
Potential Futures for PEPE’s Price
As cryptocurrency market capitalization recently experienced a 10% decline, PEPE’s potential downside risks have grown, particularly as evidence suggests its weekly pricing may already have moved below the 50-week exponential moving average (EMA). Early signs suggest this may already have happened and that ongoing bearish momentum could reinforce it without market recovery.
PEPE’s price stands significantly below its 50-week Exponential Moving Average, signaling its recent depreciation. Yet due to cryptocurrency market’s highly unpredictable nature and increased volatility, there remains room for swift reversals should market conditions improve and PEPE make a comeback and push against resistance levels again.