PEPE Price Faces a 20% Drop After Breaking Key Pattern 🚨

PEPE’s price is looking shaky right now. After breaking out of an Ascending Triangle pattern, the popular meme coin is showing signs of a Change of Character (CHoCH). If it can’t break through a critical resistance zone at $0.000008, PEPE might be in for a 20% crash. 😱

What’s Going Down?

PEPE is struggling to break above the $0.000008 level. Analyst MyCryptoParadise pointed out that this price point lines up with some serious technical resistance, including:

• 200 Exponential Moving Average (EMA)
• Fair Value Gap (FVG)
• Fibonacci Golden Zone

These signals suggest that PEPE could face more losses if it can’t get above that price. 📉

What’s Next for PEPE?

If PEPE fails to hold above $0.000008, it might drop to the $0.0000065 support level, with deeper levels at $0.0000055. However, if the price manages to push above $0.000008, the bearish outlook could be flipped, and we could see a bullish bounce towards $0.0000085 and higher. But, let’s be real—this bullish scenario doesn’t seem likely right now, as PEPE is still deep in the red. 🚫

A Quick PEPE Recap

PEPE originally launched as a tribute to the “Pepe the Frog” meme. In 2023, it reached an impressive $1.6 billion market cap. Despite its wild growth, PEPE doesn’t have much inherent utility and relies heavily on meme culture for value, much like other memecoins like Shiba Inu and Dogecoin. 💸

The Roadmap Ahead

PEPE’s community is staying hopeful with its roadmap in sight, which includes:

1. Listing on CoinMarketCap
2. Gaining Twitter attention
3. Getting listed on major exchanges

With the Bitcoin halving cycle on the horizon, there’s still hope for a potential bull run, but we’ll have to see how things play out. 🤞

TL;DR: PEPE is facing a major test at $0.000008. If it fails to break through, it could crash by 20%. However, if it manages to hold above this key level, there’s hope for a rebound. Stay tuned—this meme coin’s journey is far from over!