Predicting Pepe's price: Key levels to watch for next week

The recent collapse of the cryptocurrency market has had a severe impact on memecoins, with Pepe dropping 16% in the past week. Will PEPE recover or continue to decline? Pepe Coin price prediction: What will happen next after a 16% drop? The cryptocurrency market has faced significant deterioration in the past week, with major assets such as Bitcoin and Ethereum experiencing sharp declines. Bitcoin has dropped below the important $100,000 mark, currently trading at $94,200, while Ethereum has decreased by over 10% during the same period.

This broader market downturn has also affected memecoins, known for their high volatility. On average, memecoins have decreased by around 18%, with Pepe coin dropping 15% in the week. Pepe Coin price analysis Pepe Coin has witnessed a sharp decline from its recent high of $0.0000217 to the current price of $0.0000178. The peak at $0.0000217 acts as a strong resistance level, triggering a market correction. Currently, PEPE is holding at $0.0000178, a short-term support level that plays a key role in stabilizing the price.

The overall pessimism of the market and Bitcoin's poor performance have significantly affected the trajectory of PEPE. Although the currency remains resilient at this support level, its next move depends heavily on the price direction of Bitcoin. Price prediction for Pepe: Two potential scenarios With Bitcoin leading the broader cryptocurrency market, the future of Pepe coin is closely tied to the price movement of Bitcoin. Here are two scenarios that could occur to predict the price of PEPE:

Scenario 1: Bitcoin rebounds above $100,000 If Bitcoin regains its upward momentum and targets the $100,000 price level, it may pull memecoins like Pepe up. In this scenario, the price of PEPE is expected to return to the resistance level of $0.0000217, providing traders with potential price appreciation. Scenario 2: Bitcoin drops even deeper If the price of Bitcoin continues to decline, below $94,000, it could lead to another wave of selling pressure in the cryptocurrency market. For Pepe, this means a drop to the next support level of $0.000015.