Pepe (PEPE) continues its decline, trading around $0.000012 and dipping nearly 10% at the time of writing on Monday after correcting more than 12% the previous week.
Pepe ’s price dips on Monday after correcting more than 12% the previous week.
’s long-to-short ratio trades below one, indicating more traders are betting on the frog-based meme coin to fall. Moreover, the technical outlook suggests a further correction as momentum indicators show weakness, projecting a 20% crash ahead. Pepe bears aim for 20% crash ahead Pepe price faced rejection around a descending trendline on January 18 and declined over 30% until Sunday, closing below its 200-day Exponential Moving Average at $0.000014.
/USDT daily chart Another bearish sign is Coinglass’s Pepe long-to-short ratio, which reads 0.72, the lowest level over a month. This ratio below one reflects bearish sentiment in the markets as more traders are betting for the frog-based memecoin to fall.
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