Is Pepe Crypto Likely to Lose Its $0.00006 Price Support During the Market Correction?

Crypto News – The price of Pepe coin experienced a dramatic decline from the $0.0000108 level amid the present correction trend in the cryptocurrency market.

Is Pepe Crypto Likely to Lose Its $0.00006 Price Support During the Market Correction?

The price of the currency fell by 21.06% in just seven days, to a low of $0.000007, as a result of this negative decline. If the selling pressure in the market persists, the price of PEPE may fall below the 38.2% Fibonacci support level of $0.000007, which might lead to a decline to $0.000006. For traders, this crucial horizontal threshold—which also happens to be the 50% retracement level—serves as a crucial turning point, since any further decline could portend waning buying power.

The overextended surge and the BTC price decline below $70000, however, caused the PEPE price to abruptly reverse. The PEPE coin thus fell to its current trading price of $0.000006855 in an attempt to find support at the 38.2% Fibonacci retracement level.