The post PEPE’s support crumbles – Is the memecoin headed for a deeper crash? appeared on BitcoinEthereumNews.com.

PEPE, the third-largest meme token, has lost a critical $0.00000770 support level. Could this breakdown signal further downside, or is a rebound on the horizon? Amid crypto market volatility, the memecoin sector has surged 7.07%, pushing its total market value to $57.64 billion.  Interestingly, while high-cap memecoins face sell pressure, mid and low-cap tokens are outperforming with double-digit gains – suggesting a shift in liquidity toward riskier, high-reward plays. However, Pepe [PEPE], the third-largest meme token, has breached the $0.00000770 support, extending its weekly losses to 15%.   Source: TradingView (PEPE/USDT) PEPE’s network activity has collapsed, with active addresses dropping from 28K at its post-election peak of $0.00002836 to just 2,573 – a level not seen since before the election rally.  This fading participation reflects weakening investor confidence, increasing the risk of further downside. Moreover, the 1D chart shows no clear accumulation, as each dip has been met with more selling pressure.  A 43% decline in volume reinforces uncertainty, making $0.000006477 a fragile support level.  Without a demand resurgence, PEPE risks an extended breakdown, with the next key support yet to be established. With no clear support, how low can PEPE go? If selling pressure persists, PEPE could slide further into lower liquidity zones, with no clear support on its 1D chart. This weak demand structure exposes the memecoin to deeper corrections. At present, 78.39% of PEPE holders are underwater, with a key cluster of buyers between $0.000006 – $0.000007 now at a breaking point. With no bullish reversal in sight, nearly 13.40K addresses – holding over 20 trillion PEPE at the minimum entry of $0.0000060  – face the risk of slipping into losses.  Source: IntoTheBlock If this zone fails, the memecoin may retrace further, testing lower liquidity pockets. Meanwhile, a key whale wallet, holding between 100M — 1B PEPE, has…

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Filed under: News - @ March 9, 2025 5:11 pm