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PEPE currency faces potential drop with imminent downturn, analyst warns
An ominous shadow hangs over Pepe Coin’s trajectory as an analyst issues a warning about the potential risks of an imminent recession or downturn. Keeping an eye on technical indicators, the analyst highlights the cryptocurrency vulnerability, sending a warning signal to investors.
As uncertainty persists in the market, the anticipated downturn leads interested parties to tread carefully in their investment decisions, considering the potential impact on the value and stability of Pepe Coin.
Crypto Expert Ali’s Analysis of Pepe Coin’s Outlook
Renowned crypto analyst Ali, known for his insightful perspectives, turns to X (formerly Twitter) to share a compelling analysis that sparks the crypto community’s attention to meme coins. In particular, the resurgence of interest in meme coins, spurred by the return of TheRoaringKitty, amplifies discussions about their viability and potential pitfalls.
Ali’s scrutiny focuses on Pepe Coin, highlighting indications of an imminent pullback. Through technical analysis, Ali points out bear market signals observed on Pepe Coin’s 3-day chart, notably an aggressive 13 and a green nine candle. To further exacerbate concerns, a bearish divergence emerges between price action and the Relative Strength Index (RSI) which is at the 41.02 level, painting a cautious outlook for Pepe Coin’s near-term performance.
Read too: Crypto Bull Market Today: Top Reasons Why BTC, ETH, SOL, and XRP Prices Are Rising
Pepe Coin Current Market Performance
Despite recent fluctuations, Pepe Coin (PEPE) maintains a price of $0.00001021 with a 24-hour trading volume of $1.3 billion. Although it has experienced a slight decline of -4.92% in the last 24 hours, the coin has seen a notable increase of 24.59% in price in the last 7 days. With a circulating supply of 420 trillion PEPE tokens, the cryptocurrency has a market capitalization of $4.2 billion.
However, recent market movements reflect a regression open interest, currently at 4.53%, with a valuation of US$71.0 million. As investors monitor these metrics closely, Pepe Coin’s market performance remains subject to continued analysis and scrutiny amid the evolving cryptocurrency market landscape.
Read too: Shiba Inu takes center stage with dedicated payment page on Binance Pay
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