TLDR:
- Pepe coin’s market cap dropped from $10 billion to $3.84 billion in two months, with price falling 65% from December’s high
- Futures open interest decreased from $556 million to $258 million, indicating reduced speculation
- Holder count increased from 384,000 to 404,100 in 30 days, suggesting long-term investors are holding
- Technical indicators show a death cross formation and price below key Fibonacci level, but also potential reversal signs
- Token currently trades at $0.0000091, down 6.26% in 24 hours, amid broader crypto market consolidation
Pepe coin, the popular meme token in the cryptocurrency market, has experienced a steep decline in its market value over the past two months. The token’s market capitalization has fallen from $10 billion to $3.84 billion, representing a loss of over $6 billion in value since December 2024.
The price of Pepe coin has dropped by 65% from its December high of $0.00002828 to its current value of $0.000010. As of press time, the token was trading at $0.0000091, showing a further decline of 6.26% in the last 24 hours.
Pepe
PEPE Price
Trading activity data reveals changing investor behavior during this period. Futures open interest, which measures outstanding futures contracts, has decreased from $556 million in January to $258 million. This reduction suggests a slowdown in speculative trading activity around the token.
Despite the price decline, holder data presents an interesting contrast. According to CoinCarp statistics, the number of Pepe token holders has actually increased from 384,000 to 404,100 over the past thirty days. This trend indicates that while short-term traders may be selling their positions, long-term holders are maintaining their investments.
Technical Analysis
Technical analysis of Pepe’s price movement shows mixed signals. The formation of a death cross, where the 50-day moving average falls below the 200-day moving average, typically suggests a bearish outlook. The token has also fallen below the 61.8% Fibonacci level of $0.000011, which technical analysts interpret as a sign of continuing bearish control.
Market observers have identified $0.0000058 as a potential support level if the downward trend continues. This price point was last seen in August 2024 and could serve as a key level to watch for traders and investors.
However, not all technical indicators point downward. A falling wedge trendline convergence has begun to form, which traditionally signals a potential bullish breakout. If Pepe manages to overcome key resistance levels, analysts suggest a recovery to $0.000025 is possible, which would represent a 150% increase from current prices.
The broader cryptocurrency market context plays a crucial role in Pepe’s price movement. Major cryptocurrencies like Bitcoin and Ethereum have been in a consolidation phase in recent weeks. Any breakout in these larger cryptocurrencies could influence sentiment across the entire market, including meme tokens like Pepe.
DEX Activity
Activity on decentralized exchanges has shown a decline across multiple blockchain networks, including Ethereum, Solana, and Base. This reduction in trading activity suggests current market conditions feature lower liquidity and reduced trader appetite for high-risk assets.
Past market cycles have shown that meme coins can experience strong recoveries during bullish periods. This historical pattern suggests the possibility of a price recovery for Pepe if overall market sentiment improves.
The token’s ability to maintain support levels will play a key role in its short-term price movement. Market participants are closely watching these levels for signs of either stabilization or further decline.
Trading data shows varying responses from different types of market participants. While some short-term traders have reduced their exposure, others maintain their positions, creating a complex market dynamic.
Recent price action has tested several technical levels, with the token showing both weakness and resilience at different points.
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