PEPE Coin Tanks by 26% as Altcoins Bleed: To Buy the Dip or Not?
The post PEPE Coin Tanks by 26% as Altcoins Bleed: To Buy the Dip or Not? appeared on BitcoinEthereumNews.com.
Top cryptocurrencies just went through one of its most bearish weekends in recent history. PEPE coin was among the cryptos caught in the bearish crosshairs. On Sunday the meme coin slid to price levels last seen on 9 November. PEPE has given up almost all of the gains that it experienced in November which was the second most bullish month for the meme coin. The weekend sell pressure underscores a bearish start in February, further watering down the embers of bullish expectations. PEPE Coin Downside Continues The extended PEPE coin downsides comes just 2 days after X-based crypto analyst @CryptoKaleo tossed in his two-cents. He stated that there was a significant chance that meme coins would experience more sell pressure. As much as I’d like the bottom for memes to be in, still think there’s a good chance we see one more flush looking at HTF trend breakdowns like this one for $PEPE. Setting some stink bids in this range. If they hit, we ride them to valhalla. pic.twitter.com/8DfAvqEc09 — K A L E O (@CryptoKaleo) January 30, 2025 For context, PEPE exchanged hands at $0.00001024 at press time. This meant that it had extended its decline from its December ATH by roughly 63%. PEPE exchanged hands at $0.00001024 at press time. This meant that it had extended its decline from its December ATH by roughly 63%. The bearish performance was a reflection of the overall bearish market conditions that have prevailed lately. But could there be any recovery in sight for the PEPE meme coin? – Advertisement – Source: TradingView | PEPE price action Price initially attempted a mid-week bullish bounce last week but those gains were undone during the weekend, leading to price dropping lower than its lowest level in January. Meanwhile, the RSI’s low in the last…
Filed under: News - @ February 3, 2025 11:26 am