Pepe Price Prediction as Meme Coins Crash – Is PEPE Falling to Zero?
Today, the PEPE price has significantly retraced amidst a wider market crash, with major meme coins dropping 10-15%.
Investors may want to hold off as indicators show further downside ahead.
The PEPE price has decreased 10.14% over the past 24 hours, bringing it down to $0.00001 amid a major market crash.
In a pullback, PEPE has posted a weekly loss of 15.49%, following the trend of major cryptos like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), which have also retraced.
Despite this, PEPE is up 10.96% this month, maintaining its impressive annual return of 1,002.53%, far surpassing that of other leading cryptocurrencies.
Notably, the meme coin’s 24-hour trading volume has surged 52.48% to $1.04 billion. This suggests a massive movement among traders, possibly in response to the significant retracement.
PEPE Price Plummets Below Support Level – What’s Going On?
The PEPE price seems to be on a downtrend after plummeting in the early hours of the morning.
Notably, PEPE plummeted decisively below the $0.00001049 support level (orange) within hours of a successful recovery. The support failed to hold, indicating increased selling pressure and a possible continuation of the downward trend.
Other indicators support this, such as PEPE’s relative strength index (RSI) (purple) which has fallen from 55 to 30 in the past 24 hours. This suggests increased selling pressure, hinting towards further downside.
Most significantly, the meme coin’s 30-day moving average (yellow) is trending downward, positioned below the 200-day moving average (blue), which is also declining. This suggests persistent downward momentum in both the short and long-term.
Hence, eager investors should consider postponing PEPE due to a strong possibility of further retracements in the near future.
Despite this, it is unlikely that PEPE will see any truly fatal declines in the near term. Its recent price action is in line with the overall negative market sentiment, following the US Federal Reserve’s hawkish stance on inflation.
Low-Cap Meme Coin Offering Higher Gains Potential
With PEPE already boasting a substantial market cap of $4.39 billion, it is in question whether truly substantial gains are possible going forward.
Amidst the prevailing bearish sentiment in the market, it appears that many dominant meme coins are set to underperform in the near term. Therefore, traders may find a strategic advantage in exploring promising presales.
These newer, low-cap meme coins are poised for explosive growth. These coins offer quicker and more substantial gains than their established predecessors, and one is a standout.
Enter Sealana, the latest Solana meme coin capturing the attention of meme fans, degens, and crypto enthusiasts, with some speculating it has 100x potential.
What better way to show your love of Lambos, Massive Gains & Freedom than getting a #USA tattoo to show for it! 🇺🇸 #Sealana knows what’s best for American made #Memecoins and has a plan to make them great again! 🦭
Send $SOL 💸 and let him be an example for all #Degens!💪 #MAGA pic.twitter.com/B4aBZ2wEbI
— Sealana (@Sealana_Token) June 14, 2024
Sealana is at the forefront of a new wave of meme coins that are helping the Solana network challenge Ethereum’s dominance as the go-to blockchain for viral meme coins.
This comes off the back of wildly successful predecessors DogWifHat ($WIF), Bonk ($BONK), Book of Meme ($BOME), and Popcat ($POPCAT), all of which quickly rose to become top ten meme coins by market capitalization.
Sealana has already raised over $5 million in its presale phase so far, signaling strong interest from investors and whales.
It is currently available at $0.022 per token, marking its final fixed price before the coin debuts on exchanges.
Once it does, there’s a very real chance that the price may never be this low again. As the presale enters its final 7 days, the window to take action is closing rapidly.
For the latest developments in Sealana, follow their X account.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
