PEPE Drops 7.78% Amid Market Uncertainty, Musk's Post Sparks Hope

Pepe's latest price was $0.05, down 7.783% in the last 24 hours. Despite its current slump, PEPE remains above its crucial support level, which is a positive sign for investors. The token's ability to stay above this level is seen as a potential indicator of future stability. However, the market sentiment is divided, with short-term indicators showing a negative outlook. The rising interest in alternative meme coins like PEPETO could potentially revitalize the field and bring new dynamics to the market.

PEPE is currently facing a crucial test near the support level. A break below this support could add another zero to its price, creating anxiety for short-term holders. Yet, with meme coin cycles often flipping sentiment fast, bulls are still watching closely. The broader market is also waiting for a trigger, and it might have just arrived. Elon Musk recently shared a frog-themed post on his profile, fueling speculation that a new PEPE rally may be incoming. The last time Musk hinted at frog memes, PEPE surged. Will history repeat itself?

Despite the recent dip, analysts believe PEPE could stage a comeback. Technicals suggest a strong bounce if bulls defend the region. If that level holds, PEPE could attempt to retest and even reach new local highs. FOMO is already building as social metrics show rising activity. Traders are being cautious, but the slightest market spark, especially involving influencers like Musk, could send the token moving fast.

PEPE's technical indicators paint a gloomy picture. Since mid-May, the price has been trapped on the downward-trending parallel channel. The inability to sustain major Fibonacci support points and the fact that the RSI is going down with the reading less than 50 indicates a lack of momentum. Even MACD portrays continuous negative indicators. These indicators reinforce bearish sentiment, especially as PEPE trades in the lower range of its channel. A break below the important support threshold may provide a gateway to new lows. At first glance, the token activity was promising, and while PEPE struggled to hold its gains in the short term, its strong community and long-term potential continue to attract investor interest even as some users explore other emerging meme tokens.

PEPE still holds promise if market sentiment shifts in its favor. The chart shows optimistic trends suggesting possible surges. A rise in open interest points to traders anticipating a break. However, new competitors like PEPETO are setting higher standards with creativity and utility. PEPE could gain momentum if it leverages its community strength and creates practical use cases. The emergence of new candidates like PEPETO could drive a more dynamic and utility-driven meme coin market in 2025.

While PEPE still holds cultural significance in the meme coin world, its weakening technical structure has analysts cautious. Many now see PEPETO as a better bet for sustained growth. Its sales traction, on-chain applications, and technical capabilities do not make it another coin with a frog attached to it. Analysts believe that with planned listings on five major exchanges and a growing online presence, PEPETO could eclipse the hype-driven cycles that define most meme coins. For investors seeking both fun and fundamentals, PEPETO is emerging as a clear favorite.

PEPE's recent price correction has turned heads across the crypto market. The token exploded in early May, gaining twofold and reaching a peak value, but it has since retracted the majority of its gain. Investors continue to bet on PEPE, especially as it moves within a descending channel seen by some as a healthy consolidation phase. Analysts remain optimistic about its long-term potential.

Despite the bearish sentiment from the whale exit, the daily chart for PEPE has formed a bullish flag pattern. This technical structure often indicates price consolidation before a breakout. PEPE previously rallied in early May and has since traded within a narrow, downward-sloping channel. The trend still holds, and in case of a breach above the upper trendline, the fitting target would be around. At the current price, this would be a possible upside. The nearest resistance line is that of the 50-day EMA, represented at. Volume remains high, with 5.1 trillion PEPE traded, showing active market interest. The RSI trend, however, continues downward, indicating that the asset remains in a phase of weak momentum.