For months, PEPE’s trading price has shown a general downward trend since it touched its record high price of $0.00002825 early December 24. Thus, it has declined by almost three-quarters from its peak due to constant pressure to sell.
This was evidenced by the formation of the death cross in February on the daily chart of PEPE. The token recently dropped to levels last seen in August 2024, reaching a low of $0.00000627 on March 4. Since then, PEPE has remained within a tight trading range between $0.00000627 and $0.00000736.
PEPE struggles amid weak technical indicators
The price analysis information from Trading View shows that PEPE is currently trading $0.00000688, down by 1.57% of the day. The price move is clearly still down, and technical indicators do not indicate any strong bounce back. The Relative Strength Index (RSI) based on the 14-day moving average is 35.27, which is close to the oversold level.
The MACD depicts a bearish trend on the price chart of the respective stock. The MACD line is at -0.00000109, while the Signal line is slightly lower at -0.00000111, and both are in the negative region. From the histogram bars below, the peaks are observed to have minimal activity making it a perfect display of strong selling pressure. Thus, looking at the short term there is potential for the continuation of the bearish move unless there is a bullish crossover.
Current market movements
CoinGecko data shows PEPE trading at $0.00000688, a 2.0% increase in the last 24 hours. The market capitalization stands at $2,897,884,385, with a fully diluted valuation of the same amount. The 24-hour trading volume reached $665,793,197, reflecting strong market activity.
The prices moved from $0.000006748 to $0.000007333 during the 24-hour period, demonstrating price instability. A fixed number of 420,690,000,000,000 PEPE tokens constitute the total supply, and this number continues to remain unchanged. Recent market movements have not affected liquidity, which enables ongoing market transactions. PEPE displays price volatility since the market shows active fluctuations that will dictate its upcoming price changes.
