Pepe Coin has been on a wild ride in early September, characterized by significant price volatility and a troubling dip in its performance.
The price action of PEPE early this month followed a bearish pennant pattern, marked by two converging trendlines. This pattern typically signals indecision in the market, as buyers and sellers wrestle for control. However, the situation took a turn for the worse as the coin broke below its support trendline, increasing the pressure on the supply side.
As of the latest data from CoinGecko, the coin is trading at $0.00000067, showing a 3.9% loss in the past 24 hours and a substantial 14.4% decline over the past week. Most notably, PEPE has tumbled out of the coveted crypto top 100 list on CoinGecko.
PEPE Selling Pressure Intensifies
On September 10, PEPE suffered a bearish breakdown as it breached the support trendline. This development, coupled with a rising supply pressure across the altcoin landscape, resulted in a sharp decline in the value o
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