The price of Pepe (PEPE) has plummeted by over 75% from its all-time high, reaching $0.000071. This decline is reflective of the broader market trend for meme coins, which have experienced a crash in recent days. The drop in Pepe's price coincided with a decrease in futures open interest. However, there are indications that Pepe's price may rebound soon. In the past, the coin has recovered from similar pullbacks, and the Market Value to Realized Value (MVRV) ratio suggests that PEPE is currently undervalued. Additionally, there are bullish technical indicators, such as a flat Average Directional Index, a falling wedge chart pattern, and a bullish divergence pattern on the Relative Strength Index and the Percentage Price Oscillator. With these factors in mind, there is potential for a strong bullish breakout, potentially leading to a retest of the all-time high of $0.000028, a 300% increase from the current level.



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