Ethereum News Update: PEPE Drops to Lowest Point in 7 Months—Will Support Trigger a Recovery or Lead to Further Decline?

Bitget-RWA2025/11/06 18:16

By:Bitget-RWA

- Meme coin PEPE fell 10% to a 7-month low of $0.0055871 amid broader crypto market weakness and ETF outflows. - Technical indicators suggest potential rebound from key support levels, but structural issues like oversupply and lack of utility persist. - Emerging meme coin LILPEPE attracts $27.4M in presale, offering high-beta alternative to PEPE with Layer-2 infrastructure and viral marketing. - Analysts remain divided on PEPE's recovery potential, with predictions ranging from 114% gains by 2026 to warnin

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The

memecoin

PEPE

has dropped by 10% within 24 hours, returning to a seven-month low near $0.0055871, as the overall crypto market faces renewed downward pressure, according to a

PEPE Price Prediction

article. Experts point out that although this decline has historically signaled bullish reversals, there is still short-term uncertainty due to declining investor sentiment and broader economic challenges.

The recent selloff is part of a wider risk-averse trend in the crypto space, where

Bitcoin

(BTC) and

Ethereum

(ETH) have also struggled to gain momentum. Outflows from ETFs tracking

BTC

and

ETH

have continued for six straight days, with institutional investors withdrawing $137 million and $119 million, respectively, from U.S.-listed funds, as reported by

Crypto Today report

. This pattern has affected altcoins as well, with PEPE’s steep drop highlighting the sector’s sensitivity to market-wide uncertainty.

Despite the recent losses, some technical signals indicate a possible recovery. The key support level at $0.0055871 has often sparked bullish reversals in the past, and a rebound from this price could signal a short-term rally, according to Cryptonews. A well-known "PEPE Whale" on X pointed out signs of a reversal, encouraging bulls to watch the next resistance area for confirmation. Crypto analyst Chandler Charts also noted that PEPE’s oversold status—its 14-day RSI at 29.97—could lead to a recovery of over 100%, similar to previous rebounds from these levels.

However, optimism is dampened by broader market headwinds. The crypto market is currently in a "fear" phase, with PEPE trading below both its 50-day and 200-day moving averages, as mentioned in a

Pepe Coin Price Prediction

article. Additionally, the market’s weak performance has been worsened by a drop in retail activity, with Ethereum futures open interest (OI) falling to $40 billion from a high of $63 billion last October, according to Crypto Today.

Experts remain split on PEPE’s short-term outlook. Some forecast a 114% increase by 2026 based on long-term technical analysis, as reported by Tribune India, while others warn that factors like PEPE’s large supply and limited utility may prevent a lasting recovery. The coin’s future will likely depend on broader market trends, with any rebound tied to a general crypto market recovery, according to Cryptonews.

As the situation unfolds, investors are monitoring both PEPE’s support levels and the progress of newer meme coins. For now, caution prevails, with risk-averse sentiment dominating a market still unsettled by recent volatility.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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1. Technology stocks fell sharply as investor interest shifted toward energy and selected defensive assets. From October 10 to 16, the Nasdaq 100 declined 5.49% and the S&P 500 fell 1.95%, while the Dow gained 0.67% and WTI crude rose 10.41%. BTC, ETH, and SOL declined 1.27%, 2.65%, and 4.44%, respectively. This week's technology earnings will be an important test of whether revenue growth, margins, and cash flow can justify current valuations. Better-than-expected results could help stabilize markets in the near term. 2. Crypto continues to see pockets of strong activity, but a broad-based altcoin season has yet to materialize. CoinMarketCap's (CMC) Altcoin Season Index stood at 54 as of the October 18 UTC daily observation, below the altcoin-season threshold of 75, while BTC dominance rose to 60.08%. Our proxy leverage ratio fluctuated between 4.00 and 4.07 during the week, showing no sustained increase and suggesting limited appetite for additional leverage. Meanwhile, as major exchanges expand access to traditional financial assets, the recent sell-off in AI-related equities could attract short-term speculative capital away from crypto. Such capital rotation could make it more difficult for a new altcoin season to take hold. 3. Papertrade's loss-to-mine model has generated significant interest across the crypto community. The protocol combines high-leverage derivatives trading with zero slippage and a mechanism that rewards trading losses with PAPER tokens. Across the eight complete UTC days from October 10 to 17, cumulative reported revenue reached approximately $56.08 million, including $51.90 million distributed to token holders. With growing participation from key opinion leaders (KOLs), Papertrade has reportedly ranked among the top three platforms by profitability in the broader market recently. Assets to watch: BTC, ETH, SOL, ARB, OP, SKHYNIX, SKHY, META, TSLA, LRCX, and SPCX. Key research priorities this week: Cash flow performance in technology earnings; the relative discount and holding costs of the two SK Hynix contracts; and U.S. initial jobless claims and PMI data. Weekly market data cover the period through October 16, while research information was verified through October 18. Observation periods are specified separately for each chart.

Bitget•2026/10/19 06:51