2025-02-10 13:38:59 by CoinGape

Pepe Coin (PEPE), a frog-based meme on the Ethereum blockchain, has plunged significantly amid broader market corrections. The altcoin has dropped 65% from its ATH of $0.00002825, recorded two months ago. Over the past week, PEPE fell by more than 40% due to a substantial selloff. However, here are three reasons that suggest a potential reversal and 110% rally is likely for Pepe Coin price.  Pepe Coin Price Eyes Major Rebound as Short Liquidation Looms PEPE price has experienced a sharp decline after a wave of selling pressure wiped out sell-side liquidity. This downturn resulted in a significant price drop, pushing the asset to lower levels as large holders exited their positions. However, with sell-side liquidity now exhausted, market dynamics may shift toward a potential short squeeze. Traders anticipating further declines could face liquidations, fueling a swift price rebound. yo @MaxBecauseBTC r u ready to blow up some bears?$PEPE pic.twitter.com/azMyFdSGvo — VΣGΣƬΛ (@VegetaCrypto1) February 9, 2025 Cryptocurrency markets often exhibit high volatility, particularly when major players offload their holdings. The recent decline in meme coins reflects broader market sentiment, but a reversal could be on the horizon.  If buy-side liquidity strengthens, it may trigger a rapid recovery, leading to a possible 110% rally. The liquidation of short positions could accelerate this upward momentum, drawing renewed interest from market participants. Oversold RSI May Hint at Reversal Pepe Coin Price could be on the verge of a strong rebound as key indicators suggest a potential surge. One major factor driving this outlook is the recent price decline, which pushed the Relative Strength Index (RSI) into oversold territory. Currently, on the 24-hour chart, the RSI is at 32, nearing an oversold region.  Such conditions have often signaled a trend reversal, sparking renewed buying interest and fueling a swift recovery. Market analysts point to past instances where similar RSI dips preceded substantial price rebounds, adding weight to this bullish projection. PEPE Price Key Support Holds: Is a 110% Rally Ahead? At press time, the value of Pepe is $0.00000952, reflecting a slight 1% decrease over the past day. The memecoin recently touched a local low of $0.000008459, marking a critical support level that has historically influenced price action. The Moving Average Convergence Divergence indicator is beginning to show a narrowing gap between the signal and MACD lines, hinting at a potential bullish crossover. A breakout from the descending channel pattern could fuel a bullish reversal, targeting resistance levels at $0.000012, $0.000015, and $0.00002. This could result in a 110.33% upside move from current levels if confirmed. Pepe Coin Price Chart: TradingViewThe Pepe Coin price shows signs of a potential rebound, with indicators hinting at a strong recovery. The asset’s oversold RSI, short liquidations, and strong support levels suggest a possible 110% rally. Frequently Asked Questions (FAQs) Pepe Coin price has declined due to a broader market correction and heavy sell-offs by large holders. Indicators such as oversold RSI, exhausted sell-side liquidity, and key support levels suggest a possible rebound. A short squeeze could trigger forced buybacks, leading to a rapid price surge and increased bullish momentum. Coingape Staff CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.