Pepe Price Prediction as PEPE Falls Along with the Wider Crypto Market – Are Whales Manipulating Prices?

cryptonews.com:

The PEPE price has dropped by 3% in the past 24 hours, with the meme token's fall to $0.000000719755 coming as the cryptocurrency market continues to weather losses incurred yesterday.

PEPE remains up by 15% in the past fortnight, yet it's down by 12% in a month and by 83% since hitting an all-time high of $0.00000431 in early May, a few weeks after it had been launched.

The meme coin's overall decline since this early peak would suggest that its time as a hot cryptocurrency is now over, yet it seems that whales continue to use it as a vehicle for their own short-term gains.

This means that retail traders may be able to piggyback on whale-led rallies if they time their entries and exits right, but they could also just as easily get burned.

PEPE did enjoy a little resurgence along with the rest of the market earlier this week, yet it seems that this has already died down, with the coin's indicators showing signs of weakness.

Assuming that PEPE is likely to fall back down to its long-term support level (green), it may therefore dip to around $0.00000060 before stabilizing again.

Such negativity is supported by its relative strength index (purple), which has begun falling towards 40 again after a period of semi-recovery, with the indicator able to fall further before the coin becomes decidedly oversold.

Likewise, PEPE's 30-day moving average (yellow) has begun dipping slightly after looking like it could begin rising again, with the coin's price likely to fall below the indicator as its current selloff deepens.

And given that PEPE has fallen consistently since its early-May peak, today's losses could continue in the coming few days.

There's currently no indication that whales have took the opportunity to buy the dip today, with the