Brutal 60% Crash Comes Next?

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Check out why PEPE’s bulls may take another major blow soon.

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Summarize with AI

Summarize with AI

PEPE – the frog-themed meme coin, which was among the crypto sensations towards the end of last year – has been spiraling downward in the past several months.

According to some well-known analysts, its condition may even worsen in the near future, and its price could collapse by double digits.

Bigger Crash on the Horizon?

Pepe (PEPE) currently trades at roughly $0.000004478 (per CoinGecko’s data), meaning a 37% decline on a monthly scale. Its market capitalization has fallen well below $2 billion, making it the fourth-biggest meme coin.

PEPE Price, Source: CoinGecko

X user Ali Martinez paid special attention to the asset, claiming it has potentially broken out of “a head and shoulders” pattern on November 3. The analyst believes this development, combined with increased volatility, could result in a price drop to $0.0000015, or a 60% plunge from the current level.

PEPE’s recent exchange netflow supports the bearish scenario presented by Martinez. Over the last several days, inflows have surpassed outflows, suggesting that some investors have transferred funds from self-custody methods toward centralized platforms. This may have a negative impact on the price in the short term since it is typically seen as a pre-sale step.

PEPE Exchange Netflow, Source: CoinGlass

Time for a Reversal?

Contrary to Martinez’s pessimistic view, other market observers believe PEPE might be gearing up for a renewed rally. X user Galaxy said the meme coin still “looks good” at its current market cap below $2 billion, whereas The Moon Show thinks a breakout to as high as $0.00000550 could be on the way.

For their part, Captain Pepe envisioned an explosion to a new all-time high “before you know it,” without providing any specific details to support the prediction.

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PEPE reached its historic peak in December 2024, when its valuation shot to approximately $0.00002803, while its market capitalization briefly exceeded $11 billion. Currently, the price is trading 84% below that mark.

It is important to note that its impressive surge towards the end of last year coincided with an overall hype surrounding the entire meme coin sector. Over the past several months, that frenzy has dissipated.

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Source: https://cryptopotato.com/pepe-pepe-tanks-by-37-monthly-brutal-60-crash-comes-next/