The price of the meme coin PEPE has experienced a significant sell-off, dropping sharply from around the $0.0000058 area to near $0.0000052. This move signaled strong bearish pressure and a clear breakdown from its prior trading range. Following the steep decline, the price attempted a modest bounce but remained weak, showing consolidation at lower levels rather than a strong recovery. As of the latest data, PEPE is trading at approximately $0.00000520, reflecting a 10.1% decline over the past 24 hours. Overall momentum remains bearish, with analysts noting that PEPE needs to reclaim the $0.0000055–$0.0000056 zone to shift short-term sentiment.
Analyst "STEPH IS CRYPTO" points to a monthly price analysis indicating a potential reversal. The candlestick chart illustrates a recent pullback from a high, reaching a local support level around $0.0000057. The highlighted area suggests this could be a reversal point, indicating the downtrend may be ending and a bullish recovery could follow. A green arrow on the chart signals the analyst's expectation of upward price movement from this support level. Historically, PEPE saw rapid growth earlier in 2024 and early 2026, followed by consolidation and downward corrections, making this support zone a critical area for potential buying pressure.
The Stochastic RSI indicator reinforces this bullish outlook. Both the %K (blue) and %D (orange) lines are in the oversold region below 20, with the chart showing a projected upward turn. This indicates that momentum is likely shifting from bearish to bullish. When the Stoch-RSI exits oversold territory, it typically signals a higher probability of a price increase, aligning with the bullish price chart analysis. The analyst interprets the combination of strong technical support and oversold momentum as a potential long-term buying opportunity for PEPE.
Separately, analyst LongTerm® identifies a breakout signaling massive upside potential. On a weekly timeframe, PEPE illustrates a recent breakout from a prolonged downtrend. The price had been declining steadily, forming lower highs since late 2024, but it recently tested a key support zone around $0.0000051. This retest appears healthy, indicating the market is consolidating and absorbing selling pressure before potentially moving higher. The downward trendline has been breached, signaling that bearish momentum may be waning.
According to LongTerm®, this technical setup points to a possible continuation of the upward trend, with a projected move of over 600% if momentum sustains. The chart highlights the breakout area and the target zone, suggesting that early movers could see significant gains in the next leg up. This aligns with the analyst's strategy of identifying assets that have completed corrective phases and are poised for strong recovery.
