PEPE’s Price Plunge: Will It Add a Zero and Hop Away? 🐸💸

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Oh dear, oh dear! The froggy cryptocurrency known as PEPE (yes, the one with the cheeky grin) is feeling the heat! Its price is wobbling like a jelly on a rollercoaster, teetering dangerously close to a support level that’s as critical as a frog’s need for a good lily pad! Just yesterday, PEPE took a nosedive of 5.65%, trading at a minuscule $0.000001247. But fear not, it’s still managed to hop up by 8% over the week! 🐸✨

Meanwhile, the entire crypto pond is bubbling with signs of fatigue. Major cryptocurrencies are showing early signs of profit-taking, like greedy frogs snatching flies! Traders are flitting about, looking for the next big splash, even as they cling to their hopes for ETFs, stablecoins, and a wider adoption of this digital froggery.

In the last 24 hours, a whopping $327 million has been liquidated across various assets in this wild crypto jungle! That’s right, long positions were liquidated for a staggering $272 million, while shorts accounted for a mere $54 million. Talk about a froggy feast! 🤑

PEPE’s Ponderous Plunge

Now, while the market sentiment is generally as bright as a sunny day, several cryptocurrencies are hanging around local resistance levels like frogs on a log, urging cautious traders to lock in their gains before they leap into the unknown!

PEPE’s latest antics have seen it tumble below its 200-day Simple Moving Average (SMA), a fancy term that traders use to judge the strength of long-term trends. It’s like a frog trying to jump over a very high log—sometimes it just doesn’t make it!

If the selling pressure continues, the next line of defense is the 50-day SMA, currently at $0.000001168. If it falls below this level, oh dear, we might just see PEPE “adding a zero” to its price! That’s right, it could slip from the sixth decimal place to the seventh, and nobody wants that! 😱

If the price continues to plummet from the daily SMA 50, PEPE may find itself testing support at $0.000001037, which is the low from June 5. If that support crumbles, PEPE might just hop back to its previous range, which was as stable as a frog on a tightrope from late January through early May. Hold onto your lily pads, folks!

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2025-06-12 19:01