Pepe Coin Faces 80% Plunge on Double Top Bearish Signal
Pepe Coin is approaching a critical support level as bearish technical analysis patterns form across multiple timeframes. On the 4-hour chart, PEPE/USDT has formed a double top near $0.00000654 and is trading around $0.00000597, testing its neckline at $0.00000582. A decisive break below this support, accompanied by rising sell volume, would confirm the pattern and target $0.00000551. Meanwhile, the daily chart shows a bearish flag beneath the 50-day EMA near $0.00000744, signaling weak momentum and compressed price action. A breakdown from the flag could drive Pepe Coin down by 80% to about $0.00000118, aligning with historical demand zones. Traders should watch momentum indicators, volume shifts, and key support levels for confirmation. Intraday rebounds may retest resistance bands, but a sustained recovery would require regaining the 50-day EMA and closing above the flag top. Failure to defend support may trigger a sharp decline for PEPE holders.
Bearish
Pepe Coin’s technical structure signals a bearish outlook as both double top and bearish flag patterns threaten key support levels. Historically, similar breakdowns in altcoins—such as the 2021 DeFi token collapse—led to rapid 70–90% drawdowns. A confirmed close below the 4-hour neckline and daily flag lower trendline, especially with rising sell volume, would likely drive an 80% drop toward long-standing demand zones. In the short term, traders may see increased volatility and cascade sell-offs. Long term, failure to reclaim the 50-day EMA could signal sustained weakness, deterring new buyers and prolonging the downtrend for Pepe Coin.