Pepe is struggling to regain momentum, and the Pepe price prediction is turning increasingly bearish as warning signs stack up.
After falling nearly 45% this month, the meme coin may still have room to drop — with top analyst Ali Martinez suggesting a further 60% decline could be on the table.
Martinez points to a clear head-and-shoulders breakdown, with Pepe slipping below its neckline on November 3 and still tracking toward a potential target of $0.0000015.
Derivatives markets appear to be trailing the setup. Speculative demand has plunged, with Open Interest down 65% since the breakdown, now sitting at $238 million.
Traders have disengaged with price movements, but a $46 million pickup in OI this week and a Long Short Ratio of 1.03 show bullishness creeping back in.
The majority of traders are betting on further price increases, showing potential for an early bailout from the head-and-shoulders pattern.
Pepe Price Prediction: Will Pepe Vanish?
Not all marker commentators share Martinez’s view. Analyst GalaxyBTC cites historical support as grounds for the meme coin still “looks good” at its current position.
This support stands to be confirmed as a launchpad level yet again with a 6-week descending channel approaching a breakout as momentum indicators flip bullish.
The RSI teeters on a cross back above the 50 neutral line, while the MACD maintains a wide lead above the signal line. Both of these metrics point to this week’s pickup as the early stages of a lasting uptrend as buyers step back in.
The key threshold for a confirmed breakout sits around $0.0000047, with a bounce likely to rule out a false breakout. Fully realised, the pattern targets the $0.000009 demand zone for a 95% gain.
And as the bull market matures with anticipated U.S. interest rate cuts to fuel risk appetite, this push could go even further, eying a 5x move to all-time highs at $0.000028.
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The post Pepe Price Prediction: Analysts Warn of a Bigger Collapse – Could PEPE Be the Next Meme Coin to Vanish? appeared first on Cryptonews.
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