Lately, meme cryptocurrency values have dropped significantly. Popular tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and BONK, have not met expectations, impacting PEPE in a similar way.

In the past few months, the price of PEPE token saw a major decline. After hitting a high of $0.0000108 in mid-March, it plummeted below key support levels and the 50-day Exponential Moving Average (EMA), resulting in a 65% decrease to $0.00000932.

Despite the downward trend, there are indications of a potential turnaround. PEPE is now consolidating above the 100-day EMA and testing resistance at the 50-day EMA at $0.0000634. If the momentum continues, a breakout rally could push the price targets to $0.0000092 and $0.0000108 by month-end.

Alternatively, if there is a reversal at the current resistance level, it could challenge the upward trend and test support at the 200-day EMA and $0.00000393. Close monitoring of market dynamics and sentiment is essential in this scenario. The meme token sector as a whole is retracting, with PEPE experiencing a 65% decline. While there is potential for growth, carefully monitoring market conditions is crucial.