- PEPE has recorded significant price declines, owing to the overall crypto market crash.
- The memecoin’s daily trading volume surged by 115.84% as per CMC data.
Bears have taken over the cryptocurrency sector as investors flock into panic selling post the recent Bybit hack. For the first time in 2025, Bitcoin has fallen to $88,000 establishing the bearish trend. This has caused the altcoin sector to spiral downwards with two-digit dips in the past day.
Notably, memecoins being set off by the bear market also cascaded downwards. Prominent memecoin, PEPE, recorded a 11.50% drop in the last 24 hours and has reached the $0.000007 level. This marks a significant decline after the memecoin’s recent recovery and surges.
In the evening hours of February 24, PEPE was trading at a high of $0.000008951. After which bearish candles sparked pulling the memecoin down to an intra-day low of $0.000007411. At the time of writing, PEPE was trading at $0.00000790 as per CMC data.
Zooming out into its weekly chart, PEPE depicts a 19.34%, although most of the drop occurred in the past day. The past few days also saw the token exhibiting modest drops. However, for it to regain its previous levels, PEPE requires strong momentum, which the market is currently lacking.
Will PEPE Price Recover Anytime Soon?
On analyzing PEPE’s recent price activity, it shows a horizontal pattern. This shows that the overall price movements in the past weeks have been a consolidation. This could either be followed by a descent or a price breakout. If the bearish market continues then PEPE might witness an incoming descending channel.
Meanwhile, its bull power indicator value stands at 0.63 while its bear power indicator value stands at -14.04. This highlights a clear overpowering of the bears. Furthermore, PEPE’s RSI value stands at 31.92 indicating an oversold situation as per TradingView data.
From these inferences, it can be concluded that PEPE has given in to a strong bearish hold. In order for it to recover, a strong bullish momentum has to take place. On the other hand, other altcoins such as Raydium and XRP have also shown bearish trends in the past day.
