Pepe Coin Price Forecast: Significant Decline Expected as Analyst Predicts 66% Decrease Amid Supercycle Speculation

In the last 24 hours, the PEPE price has experienced a significant decline of 4.59%, contrasting with an average decrease of 2.77% among meme coins. Some analysts interpret this as the onset of a broader downtrend, warning of a possible “major drop.”

Indeed, PEPE seems to be undergoing a reversal as its gains from the previous week diminish, now showing only a 4.4% increase since last Thursday, while other prominent meme coins remain resilient.

This perspective is echoed by a change in trader activity, as PEPE’s trading volume has decreased by 14.95% to $729 million in the past 24 hours—prompting inquiries about whether PEPE is still a viable option.

Analysts Warn of ‘Major Drop’: What Is the Potential Low for PEPE?

In an October 8th post on X, market analyst Alan Sanatana warned of the “beginning of a down-wave,” noting that Pepe’s 55-day upward trend seems to have abruptly halted last week.

While this sudden change could be interpreted as a correction following PEPE’s recent rise, Santana referenced technical indicators as evidence that a “major drop is developing and will soon be reflected on the chart.”

PEPE/USDT 1D chart, lower highs, lower lows pattern. Source: Alan Santana / X

Although the PEPE price concluded September positively, Santana pointed out that this was a lower high in comparison to July.

The analyst indicated this as the formation of a lower highs, lower lows pattern, suggesting that October may follow a similar trend, potentially establishing a lower low compared to the $0.7 low in August.

Just as everything rose after the August low, everything will decline following the recent high.

He mentioned that the “bearish movement could persist for a duration of 22 to 27 days,” indicating a potential extended downturn. With this pattern, the previous support level at $0.4 appears to be a plausible target for a potential low, representing a 66% drop from last week’s peak.

Significantly, these technical developments stand in contrast to the generally optimistic narrative emerging for the cryptocurrency sector as we approach what is expected to be a robust final quarter of the year.

While meme coins continue to lead recent rallies in a “meme coin supercycle,” the PEPE price is weakening as it struggles to gain the momentum necessary to sustain its upward trend.

Rapid Holder Growth for Memecoins on Solana & Ethereum.
Memecoin Supercycle is in its early stages.
Buckle up. pic.twitter.com/3GLjvpdBP2

— Murad (@MustStopMurad) October 8, 2024

A Pepe Coin is Gaining Attention, But It’s Not $PEPE

As the excitement surrounding the meme coin supercycle escalates, with opportunities like $MOODENG and $NIERO rapidly rising to prominence, it appears that Pepe may not be the optimal choice this cycle.

Traders looking to maximize their potential returns might find it advantageous to diversify into smaller-cap coins, which frequently have the capacity for substantial rallies.

Introducing Pepe Unchained ($PEPU), a meme coin that goes beyond traditional utility. It addresses two of the most pressing issues in the current crypto environment: transaction speeds and fees.

This innovative version of Pepe operates on its own Layer 2 chain, liberating itself from Ethereum’s constraints, providing lower fees and transaction speeds that are 100 times faster.

It’s not merely a meme coin; it’s a meme chain! This may contribute to its rapid success, having raised nearly $18.5 million in its presale thus far!

WOAH!
$18M raised! Pepe Unchained is FLYING. Big things on the horizon. pic.twitter.com/U1C41xkuqD

— Pepe Unchained (@pepe_unchained) October 8, 2024

This confidence can also be linked to Pepe Unchained’s dedication to transparency. It has undergone two audits and features its own block explorer, enabling users to monitor all transactions on its distinct chain.

At a temporarily fixed presale price of $0.00995, those who act swiftly stand to gain the most. Investors are currently enjoying an impressive 118% APY. This presents a significant passive income opportunity, even amid recent market fluctuations.

Join the Pepe Unchained community on X and Telegram to stay informed about the latest updates.

BUY $PEPU NOW

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