- Pepe Coin price may drop to $0.000007 if support fails, amid declining whale dominance and bearish sentiment.
- RSI bearish divergence signals a potential decline from $0.00001448 to $0.000007 for Pepe Coin price.
- Whale dominance drops to 43%, with retail traders driving volatility and increasing bearish pressure on Pepe Coin.
Pepe Coin price is teetering on the edge, caught between a potential crash to $0.000007 or a recovery back to bullish territory. With whale dominance declining and bearish sentiment growing, analysts are closely watching key support and resistance levels that could determine its immediate future.
PEPE Price Bearish Divergence Signals Potential Drop
Pepe Coin price is at a critical make-or-break point, with recent performance highlighting a bearish divergence on the RSI. This led to a sharp decline from $0.00001448 to $0.0000106 in just two weeks. Analyst Matthew Dixon suggests that the coin is at a crossroads, where its price could either continue to fall or begin to bounce, depending on whether key support levels hold.
Dixon identifies a support zone between $0.00001 and $0.0000095, which will be crucial in determining the next move for Pepe Coin. If this zone fails to hold, the price could face a steep decline, potentially reaching as low as $0.000007. This scenario could trigger panic selling and escalate the downward pressure.
Source: Matthew Dixon/X
On the other hand, if the price manages to bounce and break through the resistance zone between $0.0000115 and $0.000012, there could be a shift in momentum. A bullish divergence on the RSI would be the main signal for a potential recovery.
Whale Exodus and Bearish Sentiment Threaten Pepe Coin Price
Whale dominance in Pepe Coin price has dropped to its lowest level since December 2023, with large holders now controlling just 43% of the supply. This shift indicates that big-money players are pulling back, creating space for retail traders to dominate.
Retail investors are more reactive to short-term sentiment, which often leads to increased volatility. As a result, Pepe Coin could struggle to maintain any gains, as the market becomes more unpredictable.
Source: IntoTheBlock
This exit of whales coincides with growing bearish sentiment, as shown by a declining long/short ratio and an increase in short positions on platforms like Binance. These factors suggest that traders are increasingly betting against Pepe Coin’s price, fueling expectations of further downside.
Analyst Matthew Dixon’s forecast of a drop to $0.000007 seems increasingly likely under these conditions. A recovery, however, may only occur if Pepe Coin can reclaim resistance levels between $0.0000115 and $0.000012.
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