\nA breakdown below $0.0000007 support sets the Pepe price for an extended correction to $0.04 Should you sell on this?\t\t\t\t<\/p>\n
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September\u2019s second week has not been kind to the crypto realm, with a rising tide of selling pressure sweeping across the board. The popular memecoin PEPE wasn\u2019t spared either as it shed from its value of $0.00000082 highs to a concerning $0.00000064, marking a 17.8% decrease. This trajectory has captured investor attention, especially as the coin price breached the psychological anchor at $0.0000007, Does this mark the beginning of a more profound descent for our froggy friend?<\/span><\/p>\n <\/p>\n Also Read: Pepe Coin Telegram Hack Risks Potential Dump By Whales<\/a><\/p>\n On September 11th, the Pepe coin price<\/a> shattered the $0.0000007 support zone, and the accompanying trade volume spike hinted at a solidified bearish momentum. While the buyers took a stand, attempting a rally towards the $0.0000007 mark in the subsequent days, the strong price rejection was clear evidence of the sellers\u2019 fortified position.\u00a0<\/span><\/p>\n By the present time, the PEPE price trades a $0.00000068, with an intraday gain of 1.5%. If the bearish momentum remains unchecked, we could see this meme coin\u2019s value plunge an additional 20%, aiming for the $0.00000055 threshold.<\/span><\/p>\n<\/blockquote>\n However, the $0.00000055 aligned with the lower trendline of the channel pattern could act as a suitable support for a bullish rebound. Historically, this chart pattern has offered significant recovery upon the breakout for its resistance trendline.<\/span><\/p>\n <\/p>\n Amid the ongoing retest phase, if the PEPE price manages to claw its way back above the $0.0000007 benchmark, the prior breakdown would be termed a bear trap. Such fake breakdown, designed to mislead traders into thinking an asset\u2019s value will decline, could end up being a catalyst, injecting a fresh wave of optimism and buying vigor into the market. Should this materialize, PEPE might just shrug off its recent setbacks and rally back to its $0.0000008 glory.<\/span><\/p>\n \n Share this article on:<\/p>\n –><\/p>\n Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading <\/p>\n<\/p><\/div>\n 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.<\/p>\n<\/div><\/div>\n<\/p><\/div>\nIncreased Supply Pressure Hints a Potential Fall to $0.00000055<\/b><\/h2>\n
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![\"PEPE](\"https:\/\/s3.tradingview.com\/snapshots\/q\/qBtl6wsg.png\")
Source- Trading<\/span><\/p>\n\n
Can the PEPE Price Rise Back to $0.0000008?<\/b><\/h2>\n
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