Is Pepe Coin Going to Zero? PEPE Price Plummets 25% in 7 Days as Meme Coin Experts Shift to This New Coin Before it Lists on Exchanges
The price of Pepe Coin (PEPE) has declined by 5% in the past 24 hours, dropping to $0.000000818339 as the cryptocurrency market as a whole falls by 3% within the same timeframe.
PEPE is now down by 8.5% in a week and by more than 25% in the past fortnight, with the meme token also having fallen by 35% in a month and by 81% since reaching an all-time high of $0.00000431 in early May.
Such drops make it seem as though PEPE is currently in a terminal state of decline, although some whales have begun accumulating the coin again, indicating that it could witness a (short-lived) resurgence soon.
But even if it doesn't, other new cryptos will emerge to take its place, with the success of the Sonik Coin (SONIK) presale suggesting that it could be the next runaway meme token.
Assuming that PEPE will indeed recover sooner or later, then now would indeed be a very good time to buy the meme token, seeing as how its indicators have hit rock bottom.
Not only has its price fallen well below its 30-day moving average (yellow), but its relative strength index (purple) has just touched 30.
This would indicate that PEPE is oversold and should rebound very soon, although its declining support level (green) also highlights how further falls are entirely possible before the coin corrects itself.
As a pure meme token, more declines are certainly a real possibility, given that PEPE now has fundamentals or utility to support its price.
However, there is some on-chain evidence to suggest that whales have begun buying the coin again, presumably in anticipation of further rallies they can profit from.
Of course, these same whales are likely to dump the token again sooner or later, meaning that PEPE is a risky vehicle for ordinary retail investors to use.
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