Pepe Price Prediction: As Market Turns Red, Can PEPE Price Survive a 14% Downturn?

After going down by 14% in the past few days, the market’s baseline Pepe price prediction may have turned bearish as meme coins seem poised to take a breather after their recent rally.

Trading volumes for PEPE have surged by 77% in the past 24 hours as the token retreats by 4.3%.

At around $680 million, the selling pressure for PEPE seems to be increasing ahead of the release of the Federal Reserve’s meeting minutes later this week and a speech from the head of the central bank, Jerome Powell.

PEPE is currently the worst-performing token in the top 5 of the meme coin category with year-to-date losses of 46% as exotic peers like Pudgy Penguins (PENGU) and Fartcoin (FARTCOIN) have captured most of the market’s attention lately.

Despite its recent retreat, Pepe’s market cap is still more than two times higher than its closest contender, PENGU. That said, the launch of an exchange-traded fund (ETF) for Pudgy Penguins could shrink the distance between the two.

Crypto Trade Plazma believes that PEPE will soon be repriced as the token has been underperforming the overall market for no reason whatsoever.

$PEPE has been on consistent uptrend for 160 days.
It's holding up extremely well on red days.

Within a week the 200 day MA will start going up and algos will pick it up, likely starting a big repricing towards ATH. pic.twitter.com/9dtQbToc1r

This seasoned trader, whose X account is followed by more than 28,000 users, emphasized that the meme coin has been on an uptrend for more than 5 months and the market has respected its trend line support during downturns.

The daily chart shows that PEPE has touched a key trend line support today at around $0.00001050. This is a key level to watch as the price action has confirmed the relevance of this line after bouncing more than 4 times off it.

If the price bounces once again, it could first rise to $0.00001500. Such a move would increase the odds of a bullish breakout toward much higher ground.

As the chart shows, PEPE could fully overturn its recent downtrend and deliver big gains exceeding 180% if it rises above this level as this would confirm a bullish Pepe price prediction.

The price could remain in consolidation for a while as this symmetrical triangle has been forming for nearly 4 months. Hence, although this breakout may not occur instantly, once it does, the next move could be quite explosive.

As PEPE’s performance stalls, the best crypto presales of this year like Token6900 (T6900) seem poised to deliver the highest gains. This token has already raised more than $2 million to launch the purest meme coin out there.

Token6900 (T6900) is what happens when an entire generation gets rekt by sky-high rent prices and silent inflation.

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This is a community-centered token, hard-capped at $5 million to reward the biggest believers, and fueled by pure ‘vibe’ liquidity. It offers no incentives, makes no promises, and has no roadmaps.

It is everything that meme coins should be.

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