The Paye Price has crashed from its all -time high to 65% and is at risk of being more negative as a smart money investor escape and a death cross.
Peppe (Pepe) dropped at $ 0.000011 below the major support level and has been hovering near its lowest level since 7 November last year.
Nansen’s data shows that the number of smart money investors keeping Peppe has fallen below the last year’s high 91.
Peppe’s performance aligns with coins of other atherium (Eth) memes such as Shiba Inu (Shib), Floki (Floki), and Doglon Mars. These tokens have immersed investors as focusing on Solana Meme coins such as fartcoin, official trump and dogwifat.
The ongoing Pepe Crash has also made a major decline in the Futures Open Interest, indicating demand for demand. On Tuesday, the open interest fell to $ 282 million on Tuesday, below the year-over year $ 556 million.
The price of Pepe coin is about making a death cross
Worse, technical suggests that the price of Pepe coin is about making a death cross pattern as the pricing of 50-day and 200-day weighted moving narrowness. A Death Cross is one of the most recession patterns in the market, as it shows that a property is unable to dialect.
Peppe has also gone below the lower part of the descending channel, another risky symbol. In addition, the average directional index has increased to 27, indicating that the dowtrand is strong. The relative power index is also near the oversold level.
Therefore, the coin will probably fall, with the next reference point at $ 0.0000059, its lowest level in August last year. Such a trick indicates 45% of an accident below the current level.
On the positive side, Paype is building a falling wedge pattern, pointing to a reversal in the future. The wedge pattern will remain intact as long as it is inside the two descending trendline.
