Pepe Coin Price Falls 14% In 7 Days – Traders Are Buying Evil Pepe Coin Instead
Pepe’s price has shown significant weakness of late, falling 14% in seven days and 2.47% in the last 24 hours.
The recent sell-off means the 13 July rally has been canceled out, leading to a head and shoulders pattern on the Pepe price chart.
To make matters worse, the price has dropped below the head and shoulders neckline and crossed below the 21-day exponential moving average.
For Pepe to regain bullish momentum, it must reclaim the head and shoulders neckline and use that as support before making a higher high.
Nevertheless, Pepe’s inability to hold above $0.000001763 shows a weakening interest in the project and could signify a move toward $0.00000091.
After a sell of beginning on 4 July, Pepe’s price climbed over 13% in one day on 13 July. However, this was because of XRP’s partial victory over the SEC, and sell pressure continued the following day.
Pepe’s social analytics also paint a bearish picture. According to LunarCrush, Pepe’s social mentions are down 76% in the last month, while social contributions are down 91%.
Moving to price data, CoinMarketCap shows Pepe’s 24-hour trading volume is down 16% at $71,038,214.
The project currently has a $587,924,771 market cap, ranked 68 amongst all cryptocurrencies on CoinMarketCap.
Overall, Pepe’s price and social metrics show that interest is ceasing for the project. Could this be an end of an era, or is this a blip in Pepe’s journey? Ultimately, that remains to be seen.
For Pepe to regain the upwards trajectory, the broader market must display significant strength, and new developments or partnerships could also help boosts its price.
Ultimately, however, Pepe looks bearish in the short term, unable to hold above $0.000001763.
Traders Back New Token Evil Pepe Coin as a Pepe Alternative
Evil Pepe is a new Pepe alternative looking to reignite the Pepe hype. Currently available in its presale at $0.000333, the project could provide early investors access to the next meme coin pump.
So far, Evil Pepe has raised over $180K despite launching only a few days ago. However, top media analysts have already picked up the project, so a quick presale is expected.
The project acts as Pepe’s alter ego, “the voice in your head you know will get you rich.”
90% of the $EVILPEPE tokens will be available in the presale, with the remaining 10% committed to DEX liquidity. This makes the project 100% community-driven and enables the seamless trading of the token.
Thanks to Pepe’s recent disappointing performance, the Evil Pepe community are calling for the project to absorb some of the Pepe community.
Analyst Jacob Bury covered the project recently, speculating it could be “the next Pepe”. The Youtuber highlighted that coins inspired by Pepe often perform well.
Evil Pepe’s market cap at launch will be $1,996,002 – a drop in the ocean compared to Pepe’s $587 million market cap. This presents significant room for growth if the hype continues.
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