PEPE coin price appears to have perfectly met my price target that was mentioned in my last week’s article. In fact, the price went far below this bearish price target before having a strong rebound. A 75% correction from its all-time high led many analysts to believe that the meme coin PEPE’s days could be over.
PEPE price closed last week with a 36% drop. Last Friday, the price tagged $0.00000105 level, which was its lowest level since its Binance listing. Since then, the meme coin price has significantly recovered and is trading at $0.00000174 on Monday.
After an insane hype of meme coin PEPE, hundreds of new meme coins have popped up. Some of these meme coins have become very popular as investors try to find the next PEPE. Among those coins, the Milday meme coin, also known as the LADYS token, has developed a huge fanbase.
Just within a week of its launch, the LADYS token has hit a market cap of $120 million. This is even more than PEPE’s market cap at the same stage. This shows that the popularity of new meme coins has significantly impacted the PEPE coin price.
On a 4H meme coin PEPE price chart, the coin appears to be in a downtrend, making lower highs and lower lows. The $0.00000214 level appears to be acting as a resistance that the bulls need to reclaim to start another rally. As long as it remains below this level, our PEPE coin price prediction will remain bearish.
Therefore, the bulls need to close a 4H candle above $0.00000214 to prove they are still in control. In case of a failure to reclaim this level, the price may drop below $0.00000150 soon, which will also put another retest of the recent low at $0.00000105.
I’ll keep sharing my updated PEPE price analysis and upcoming 100x gems in my free Telegram group, which you are welcome to join.
This post was last modified on May 15, 2023, 10:24 BST 10:24