Pepe (PEPE) Plunges 37% Monthly: Could a Severe 60% Decline Follow?

PEPE, a meme-inspired cryptocurrency that gained popularity late last year, has faced a dramatic decline recently. Analysts suggest that it may drop even more in the foreseeable future.

Potential for a More Significant Drop?

Pepe (PEPE) is trading at approximately $0.000004478, representing a 37% drop over the past month. Its market cap has fallen to below $2 billion, ranking it as the fourth-largest meme coin.

PEPE Price PEPE Price, Source: CoinGecko

Notable analyst Ali Martinez highlighted that PEPE may have broken out of a “head and shoulders” reversal pattern, predicting a potential price drop to $0.0000015, which would represent a 60% decline from its current value.

On the other hand, the recent flow of funds into exchanges supports this bearish outlook, suggesting that various investors are shifting their assets from private wallets to centralized trading platforms, often indicating upcoming sales.

Is a Reversal Coming?

Conversely, some market analysts are optimistic about PEPE’s potential for a rebound. Galaxy, another market observer, believes the coin still looks promising at its current valuation, while Captain Pepe anticipates reaching new all-time highs soon without elaborating details.

A Closer Look at PEPE’s Performance

PEPE reached its all-time high of around $0.00002803 in December 2024 but is currently trading 84% lower than that peak. The previous growth coincided with widespread excitement around meme coins, a sentiment that has faded over recent months.

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This arises as the hype surrounding meme coins dwindles, revealing how volatile this sector can truly be.