😱🐸 PEPE Plunges: Will It Leap Back?

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In a tale as old as time, the amphibian-inspired coin PEPE has taken a swan dive from its December peak, plummeting a staggering 79% from its all-time high of $0.00002825. The skies darkened further with the ominous “death cross” pattern, a harbinger of doom for optimistic investors.

Oh, the drama! The 50-day moving average, like a wayward lover, abandoned the 200-day average, signaling a bearish romance that began in February 2025. The prices haven’t been this low since… well, let’s not dwell on the past.

As the ink dries on this missive, PEPE continues its downward spiral, down 8.65% in the last 24 hours to a mere $0.00000596. A week ago, it was down 11%. Such is the fickle nature of the digital realm.

In a moment of despair, PEPE hit an intraday low of $0.00000525, a level not seen since the halcyon days of April 2024. Cryptocurrency prices tumbled as if they too had heard the whispers of an impending sell-off in U.S. equities.

CoinGlass, the all-seeing eye of the crypto market, has witnessed $912 million in liquidations in a single day. Bulls took a beating to the tune of $716 million, while shorts danced away with a modest $195 million. PEPE alone contributed over $2.2 million to the liquidation festivities.

PEPE’s descent from the lofty heights of $0.00002832 on Dec. 9, 2024, has been nothing short of tragic. It lost key price levels as if they were old friends at a masquerade ball.

But wait! Is that a glimmer of hope? The Relative Strength Index (RSI) has plummeted to oversold levels, suggesting a rebound might be in the cards. If PEPE can cling to the $0.00005 support level, a mighty leap back to glory might just be possible.

Market sentiment, as fickle as a politician’s promise, could yet sway PEPE’s fate. The creation of a U.S. Bitcoin reserve and a crypto summit in Washington failed to stir the market from its slumber.

In the absence of a crypto-specific savior, macro concerns loom like a shadow over the digital landscape, threatening to squash any dreams of a PEPE renaissance.

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2025-03-11 19:25