Pepe USD (PEPE) has experienced a notable decline today, driven by a broader market correction that has particularly impacted meme coins. The recent downturn follows a period of significant gains, where PEPE saw its price rise over 100% amid the so-called "Trump Pump" after President Trump's re-election. However, the market-wide correction has led to a sharp pullback, with PEPE's price diving as much as 10% in recent days. This volatility is characteristic of meme coins, which often experience rapid price swings based on market sentiment and speculative trading.
Despite the current downturn, there are still bullish signals for PEPE. On-chain data indicates ongoing whale activity, with significant purchases and movements of PEPE coins. This suggests that some investors remain optimistic about the coin's potential for future gains. Additionally, the technical analysis points to a possible bullish breakout, with patterns such as a falling wedge and a morning star indicating potential upward movement. However, analysts caution that rising selling pressure could limit PEPE's growth unless key support levels hold strong.
Currently, PEPE's price has decreased by 1.88% today, with the price remaining at 0.0000.