An analyst on the social media platform X has highlighted a decisive support level for PEPE, since the Meme coin is exposed to a significant deduction compared to the latest heights. Based on historical price trends, the analyst found that Pepe consistently recorded an average deduction of approx. 64% after each local top value. The ongoing correction Pepe has placed around this retracement level, and the Mememen coin is now in a precarious position in which its ability to maintain support can determine whether it stabilizes an upward track and absorbs again or falls into a deeper decline.
Pepes Historical Drawdowns and the 64% correction pattern
Price data from Coencko show that Pepe, the popular Meme coin, is Currently around approximately 67.3% compared to the all -time high of $ 0.00002803, which it reached on December 9, 2024. In particular, the most recent downturn has been carried out with a sharp decline in 25.3% in the last 24 hours The wider decline About the cryptom market.
A crypto analyst on the social media platform X indicated a recurring pattern In Pepes Price history, it is clear that the Meme coin has around 64% of around 64% after stabilizing and rumbling. This trend has repeated itself several times on the weekly candlelight period and strengthened a consistent cycle of sharp corrections and subsequent recovery.
The first major withdrawal occurred between March and April 2024, when the asset after an all -time high of 0.000010003 decreased by 63.75%. This correction led seriously, but finally led to a strong rebound, which made it possible to set new heights. A similar scenario developed between May and July 2024, when the meme coin experienced a decline of 66% before it dynamically reappeared, which ultimately increased its price to the current all-time high in December.
As the analyst stated, these declines were always supported by the 50 EMA indicator after reaching a new high. At the time of writing, Pepe is now about this EMA, and his ability to maintain its position over it is crucial to avoid a lower decline. If the price applies at this level, this could Mark the start of a recoveryWhile a strong breakdown among them can trigger a further sales pressure.
What’s next for the price?
The entire cryptocurrency market capitalization Has taken from About 10% in the last 24 hours, which contributes to a bearish mood around Pepe. This widespread market depression increases the risk of expanding the collapse of the meme coin under the 50-week exponential moving average (EMA). The recent weekly candlestick has already shown signs that they are slipping under this critical support level, and the prevailing bear dynamic could strengthen this step if the sales pressure remains on the entire market.
At the time of the letter, Pepe acts with $ 0.000009279, while the 50-week EMA is $ 0.00000011. This indicates that the Meme coin has already fallen by about 15% below this level of support. However, the situation is not quite bad. In view of the increased volatility in the last 24 hours, a quick market recovery in addition to wider crypto assets and the Meme coin have been able to recover and recover and Return to repeat resistance at $ 0.00001313.
Selected picture of medium, diagram of tradingview.com