- PEPE is under intense bearish pressure, with its price testing the crucial $0.00001108 support level and at risk of dropping to $0.000010.
- Despite the decline, a surge in large-holder inflows suggests potential for a bullish reversal if support holds.
Pepe (PEPE), the popular meme coin, is under mounting pressure as bearish momentum tightens its grip on the market. After failing to sustain a breakout above key resistance, PEPE now finds itself at a critical juncture: can it hold the $0.00001108 support, or is a deeper correction toward $0.000010 inevitable?
PEPE recently faced a 3.59% drop, forming a bearish evening star pattern right below the 50% Fibonacci retracement level at $0.00001212. This rejection signals waning bullish strength and a heightened risk of further decline. The price has already slipped below the 50-day EMA and is now testing the 200-day EMA—making $0.00001108 the next crucial support to watch.
Also read: Top 10 Meme Coins to Watch in June 2025: Dogecoin, Shiba Inu, Trump & More Making Noise
If bearish pressure persists, PEPE could tumble further and test the psychological $0.000010 level. Indicators aren’t promising either—the daily RSI remains below 50, suggesting that momentum is tilting in favor of the bears.
On the derivatives front, the signs are equally concerning. Open interest has dropped 2.19% to $499 million, while long liquidations soared to $2.6 million over the past 24 hours—vastly outweighing short liquidations. Meanwhile, funding rates have declined, reflecting weakening bullish conviction.
Still, not all hope is lost. On-chain data reveals that large holders are doubling down. IntoTheBlock reports a 33% spike in large-holder netflows over the past week, with a notable 1.1 trillion PEPE accumulated on June 4 alone. This suggests that smart money may be taking advantage of the dip, betting on a rebound.
If PEPE can regain momentum and push above the $0.00001212 level, a rally toward the recent high of $0.0000155 remains possible. Until then, all eyes are on $0.00001108—will it act as a springboard or break under pressure?
This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before making any investment decisions.
