Is Pepe Going to Zero? PEPE Price Drops 20% as Investors Cash Out to Buy This New Viral Meme Coin – How to Buy Early?
Pepecoin (PEPE) has tumbled -18% in 48 hours, after new concerns have emerged stemming from a reduction in the threshold required for the PEPE multi-signature wallet - with concerned bag-holders asking 'is Pepe going to zero?' - explore PEPE price analysis to find out.
Eagle-eyed community members noted a sudden change to the requirements for the PEPE multi-signature wallet, which reduced the threshold from 5/8 signatures needed to just 2/8 signatures.
The transaction changing the multi-signature threshold can be seen via Etherscan.
With PEPE now seemingly shifting into a private wallet address, fear has ran rampant through the Pepecoin community - despite the efforts of some traders to reassure markets.
Following the FUD, Pepecoin is currently trading in the bottom of the channel, with PEPE's market price standing at $0.00000091 (representing a 24-hour change of -4.21%).
The troubling news couldn't have come at a worse time for PEPE price action, which was already struggling to hold position above the $0.00000105 price level - in a resistance test against the 20DMA.
With the sudden cascade down seeing Pepecoin price plummet -23% below the 20DMA.
Now trading at the bottom of its range, PEPE is fighting for life above the $0.00000008 support level, which provided 10-days of steadfast support during June.
Yet, while price is recovering from the tumble, PEPE's indicators could provide a degree of relief - with the RSI cooled-off to a significant oversold signal at 29.
And while the MACD has flipped to bearish divergence, this remains marginal at -0.00000002.
Overall, with price trading low in-range, PEPE is facing an upside target at $0.00000105 (+16.67%) - a level which would leave Pepecoin poised to re-test resistance from the
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