Pepe (PEPE), a meme coin, has experienced a 12% drop in just 24 hours, interrupting a promising uptrend. This decline is due to broader market cues and the loss of critical support. Despite this setback, PEPE investors have shown optimism, transitioning from short-term holders to mid-term holders instead of selling. This shift suggests growing confidence in the token's long-term prospects. However, technical indicators indicate a bearish turn in momentum, aligning with the overall market conditions. If these bearish cues persist, PEPE's price could fall further and delay recovery efforts. Currently trading at $0.00001823, if PEPE reclaims its support level of $0.00002062, it could stage a bounce-back and reaffirm investor confidence.



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