Pepe (PEPE) Token Price Movement

Pepe (PEPE) token is experiencing significant price fluctuations due to concerns that its social media platform X account has been hacked. Attention Investors: Please refrain from interacting with that account for now.

Currently, PEPE’s price is declining in line with the overall market trend. The token’s price action has been volatile, prompting traders to closely monitor support and resistance levels for future movements.

> ‼️ ATTENTION ‼️
> The @pepe x account has been compromised/hacked. Please ignore all links and tweets from this account until further notice!
> — Pepe (@pepecoineth) March 6, 2025

PEPE Price Keeps Falling

PEPE is currently trading at $0.00006755, which marks a 5.86% decline over the last 24 hours. Its market capitalization is $2.84 billion, and the 24-hour trading volume has seen a 1.46% increase to $546.64 million.

The token price is on a downward trend, forming lower highs and lower lows. After a swift drop, it has seen a slight bounce, indicating a potential attempt to stabilize.

Key Support at $0.000066 and $0.0000645

Market analysts are identifying key support and resistance levels that will influence PEPE’s future direction.

Immediate support is around $0.000066, where buyers have previously entered the market. Below this, a stronger support level is at $0.0000645, which has proven resilient in the past.

On the resistance side, the initial resistance is near $0.000071, where selling pressure has been observed. A stronger resistance level lies at $0.000074; failure to break through these resistance levels could hinder bullish movements.

RSI Approaches Oversold Status

The RSI is currently reading 33.39, nearing oversold territory. A drop below 30 may indicate a price reversal or stabilization.

The MACD (Moving Average Convergence Divergence) indicators also remain negative, confirming ongoing bearish momentum. Additionally, the histogram shows a weak position, suggesting sustained selling pressure.

According to Coinglass data, the PEPE derivatives market is seeing increased activity. Trading volume surged 14.08% to $403.72 million, while open interest rose 2.95% to $201.03 million, indicating more traders are active in contracts.

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