Pepe Coin, 20% plunge over 3 days... 0.00001000 dollar support line on the verge of collapse

Pepe Coin's Decline Increased (Source: The Future Party)

Meme coin Pepe (PEPE) is facing a sharp decline and is in a situation where the key psychological support line is precarious. According to FXStreet on the 13th (local time), Pepe has fallen about 20% from its weekly high of $0.00001362 over the past three days to $0.00001037. This is the lowest level since June, and if the $0.00001000 support line breaks based on closing prices, further decline to the $0.00000900 level is inevitable, it is predicted.

Technical indicators also support the decline. MACD is forming a negative histogram below the zero line, strengthening the downward trend, and RSI has fallen to 41, nearing the oversold zone. This signals that the market's selling sentiment remains strong, and even short-term rebound potential could be limited, according to analysis.

However, if strong buying pressure enters at the $0.00001000 level, there is a possibility of a short-term rebound attempting up to the 50-day EMA of $0.00001153. Nonetheless, the overall market sentiment leans more towards the possibility of support line collapse as the current downward trend is led by selling pressure.