PEPE Price Prediction: Another 20% Drop Likely in August?

Pepe plunged to the $0.000008 support level once more, shedding 30% since the previous Monday. Will another 20% drop arrive?

Cryptocurrency prices today: PEPE, DOGE, SHIB show resilience in a market downturn, testing key support levels with active trading and dynamic participation.

What happened: As the broader cryptocurrency market continues to consolidate following a strong rally last week, several memecoins have been showing resilience and testing key support levels with active trading and dynamic participation.

According to data from CoinMarketCap, PEPE was trading down by 0.42% over the last 24 hours at $0.0000091. Over the past seven days, PEPE has gained 10.23%.

Pepe coin (PEPE) recently saw an expected breakout from its descending channel, one that helped the buyers retest the $0.0000127 resistance in mid-July. The buyers would now aim to provoke a near-term uptrend. Alas, the $0.0000087 resistance could pose near-term hurdles. Should PEPE find a close above this level, bulls would aim to retest the $0.0000127 in the coming sessions.

The Relative Strength Index continued to show a bearish edge but was on an uptrend after dipping into the oversold zone. A likely close above the 50-level can affirm the ease of selling pressure.

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