PEPE Coin Tumbles more than 50% in a week as Market Crash Deepens

In the wake of a significant market crash, PEPE coin has seen a dramatic 50% decline over the past week. The failure of the support trendline to withstand the increasing supply pressures has triggered a sell signal. As the price dips to the $0.0000065 support level, the question arises: can buyers intervene to halt this downward spiral?

Meme Coins in Free Fall

Meme coins, including PEPE, are undergoing a steep decline as the market crash intensifies. PEPE has suffered an intraday loss of 16.53%, falling below the crucial $0.000010 mark. This breakdown has sent the market cap tumbling to $1.71 billion, breaching multiple support levels.

Technical Analysis and Future Projections

Currently trading at $0.000006726, PEPE shows signs of lower price rejection in the daily candle. This suggests a potential retest of the broken trendline could be on the horizon. However, as Bitcoin and other leading cryptocurrencies continue to drop, meme coins are struggling to maintain any support levels. This trend indicates that PEPE may face further declines if the broader market downturn persists.

As the cryptocurrency market experiences widespread turbulence, PEPE coin's recent performance highlights the vulnerabilities of meme coins in such volatile conditions. While a retest of the broken trendline offers a glimmer of hope, the overall bearish sentiment suggests that PEPE might continue to struggle in the near term. Buyers will need to step in decisively to prevent further losses and stabilize the price.