PEPE’s 13% Plunge: Is This the End of the Line for Our Favorite Meme Coin?

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Oh dear, it seems PEPE has gone into a bit of a tailspin, dropping a heart-stopping 13% on the daily chart. It’s not looking great for our favorite meme coin, which is clearly intent on proving that “bearish” is the word of the day. With its price continuing to tumble, the next big hurdle awaits at the point of control, a critical level that will either break its fall or open the floodgates for even more carnage. Buckle up!

In case you missed it, PEPE has been on a relentless downtrend for a while now, and this 13% drop just sealed the deal. The downward spiral began when PEPE couldn’t muster the strength to bounce back above the value area high, followed by a harsh rejection at the 0.618 Fibonacci level. You know, the kind of rejection you’d get from a date you spent hours getting ready for. Ouch. With the market still on shaky ground, PEPE is now heading towards the point of control, where either support will kick in or it’ll drop like a rock into the abyss. Sorry, PEPE.

Key technical points

  • Downtrend Confirmed: A fresh lower low is in the books, so the bearish market structure is still going strong. Yay?
  • Rejection from Value Area High: PEPE got the cold shoulder at the VAH and the 0.618 Fibonacci level. Maybe it’s time for a new approach?
  • Next Major Support at Point of Control: The POC is a big deal – it’s where the magic either happens or PEPE goes full-on crash mode. It’s do or die!

The latest drop came after PEPE lost a key daily support level, confirming that it’s stuck in correction mode. The saga began when PEPE couldn’t hold onto the value area high and got swiftly rejected at the 0.618 Fibonacci. It’s like trying to pick up a glass of water but missing every time.

Looking at the market profile, the loss of the value area high usually means a full rotation back to the point of control. If the POC can’t hold, expect PEPE to tumble further, potentially heading toward the value area low – where things could get very ugly. Seriously, this is like watching your favorite TV show crash and burn after a bad season.

The POC is now a key battleground – it’s lined with multiple confluences like the 0.786 Fibonacci retracement and monthly high-timeframe support. It’s a crucial zone, and it will decide if PEPE gets a breather or if it’s game over. If buyers can muster enough strength to defend the POC, we might see a short-term reversal. If not, brace yourselves for more pain.

What to expect in the coming price action

PEPE is still firmly in a downtrend, and this latest drop just adds fuel to the fire. Keep an eye on the point of control for any signs of life. If the buyers show up, we might see a glimmer of hope, but don’t be surprised if this wild ride continues with even more volatility and pain ahead. It’s like watching your favorite rollercoaster stall halfway up the track – you know something big is coming.

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2025-06-17 20:03