Pepe Token Plummets 5.86 as Hack Alert Sparks Sell-Off

Pepe (PEPE) token has experienced a significant price drop of 5.86% in the past 24 hours, currently trading at $0.00006755. This decline comes amidst an alert regarding a hacked account, which has raised concerns among traders and investors. The token's market capitalization stands at $2.84 billion, reflecting the impact of the security breach on investor confidence.

The hacked account alert has triggered a wave of uncertainty in the market, leading to a sell-off of PEPE tokens. Traders are advised to exercise caution and monitor their accounts closely to prevent any potential security breaches. The incident serves as a reminder of the importance of robust security measures in the cryptocurrency space, where vulnerabilities can be exploited by malicious actors.

The price drop of PEPE highlights the volatility and risks associated with investing in cryptocurrencies. While the token has shown potential for growth, the recent events underscore the need for vigilance and due diligence. Investors are encouraged to stay informed about the latest developments and take necessary precautions to protect their investments.

The hacked account alert has also sparked discussions about the security protocols in place for cryptocurrency exchanges and wallets. As the market continues to evolve, it is crucial for platforms to enhance their security measures to safeguard user funds and maintain trust in the ecosystem. The incident serves as a wake-up call for the industry to prioritize security and implement best practices to prevent similar occurrences in the future.

Market watchers are focused on support and resistance zones that could decide where PEPE goes next. Support right away is around $0.000066. Buyers showed up there before. Below that, stronger support is at $0.0000645. It bounced up from there before, so it’s a key level to watch for buying. Resistance right away is near $0.000071. It hit a high there, which saw selling. Above that, tougher resistance is at $0.000074. The price got turned back pretty strongly there before. If it can break above these levels, bulls might get back in charge.

The RSI is currently at 33.39, getting close to oversold. If it drops below 30, it could mean a reversal, or at least the price settling down for