64 % of Baby withdrawals: The analyst reveals the level that must be kept amid a tremendous collapse in prices
One of the analysts on the social media platform X highlighted a decisive support level for PEPE, where Meme faces a significant decrease from its last highest levels. Depending on the historical price trends, the analyst indicated that Pepe has constantly witnessed a average decrease of about 64 % after each local peak. Continuous correction I have put Pepe around this level of decline, and the Meme coin is now in an unstable position as it can determine its ability to maintain support whether it settles and resumes an upward path or falls in a deeper decline.
Historical Baby withdrawals and 64 % correction pattern
The price data from Coingecko reveals that PEPE, the popular Mim currency, is Currently a decrease 67.3 % of its highest level ever at 0.00002803 dollars, which it reached on December 9, 2024. Especially, the last decrease intensified by a sharp decrease of 25.3 % in the past 24 hours due to Wider decrease Through the encryption market.
An analyst for encryption on the social media platform x The most prominent pattern is repeated On the date of PEPE price, noting that the Meme coin tends to an average decrease experience of about 64 % after each local peak before stability and apostasy. This trend has repeated several times on the time frame of the weekly homes, which enhances a consistent cycle of sharp corrections and subsequent recovery.
The first significant decline occurred between March and April 2024, when the original decreased by 63.75 % after reaching the highest level ever at $ 0.000010003. This correction, although severe, eventually led to a strong recovery, allowing Pepe to set new levels. A similar scenario reveals between May and July 2024, when the M -currency suffered 66 % before restoring the upscale momentum, which eventually prompted the highest level in December in December.
As the analyst noted, these declines after reaching the highest new level have always been supported by the EMA 50 index. At the time of this report, Pepe is now trading around the EMA, and its ability to maintain its location above is very important to avoid a deeper decline. If the price persists at this level, it can On the occasion of the beginning of the recoveryWhile the strong collapse below may lead to increased pressure.
What is the next price?
The maximum coded currency market He rejected Nearly 10 % in the past 24 hours, contributing to the downside surrounding Baby. This stagnation in the market increases the risk of expanding the collapse of MIME lower than 50 weeks (EMA). The latest weekly candlestick has already shown signs of slipping below this critical support level, and the prevailing dominant momentum may increase the strengthening of this step if the pressure pressure continues throughout the market.
At the time of writing this report, PEPE is traded at $ 0.000009279, while EMA for 50 weeks is located on the 0.0011 dollar sign. This indicates that the Meme currency has already decreased about 15 % less than this support level. However, the situation is not completely bad. Looking at the increasing volatility over the past 24 hours, the rapid market recovery can see the recovery of Mimi currency along with wider encryption assets and Return to re -test the resistance At 0.00001313 dollars.
Distinctive image from Medium, Chart from TradingView.com
