The meme coin PEPE, which surged more than 70% last week, has fallen for five consecutive days as buying pressure wanes, putting the 100-day moving average (EMA) at risk of breaking down. FX Street reported that PEPE faced intense selling pressure after a record 72% rally last week. So far this week, it has declined about 15% from Monday’s high, extending five days of losses, likely reflecting profit-taking after the sharp rally.
New addresses plunged from 2,673 on Sunday to 1,237 on Thursday, while daily active addresses declined from 6,476 to 3,737, signaling a clear slowdown in network activity. Trading volume also fell from 1.66 billion units in early January to about 0.738 billion, and social dominance slipped from 0.282% to 0.117%, signaling waning retail interest.
The current price is testing the 100-day EMA at $0.00000598; if the daily close remains below this level, further declines toward the 50-day EMA near $0.00000519 could follow. RSI sits at 60 and is coming off overbought levels, while the MACD histogram is shrinking, suggesting a sell signal could be imminent. Experts say the selling pressure has weakened sharply, but if a technical rebound occurs, the next target could be the 200-day EMA at $0.00000744.
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