The #pepe price has had a decline of 3% throughout the last 24-hour period, resulting in the meme token's value dropping to $0.000000719755. This decrease in price occurs amidst ongoing losses in the cryptocurrency market that were sustained the preceding day.
The #cryptocurrency PEPE has had a 15% increase in value over the previous two weeks. However, it has seen a decline of 12% over the course of a month and a significant drop of 83% since reaching its highest recorded value of $0.00000431 in early May, just after its first debut.
The drop in value of the meme coin subsequent to its first high indicates that its period of prominence as a popular cryptocurrency has concluded. However, it is noteworthy that influential investors, sometimes referred to as whales, persist in using it as a means to achieve their own immediate financial profits.
This implies that retail traders have the potential to benefit from rallies initiated by large institutional investors if they strategically coordinate their entry and exit points. However, it is also possible for them to experience significant losses.
The $PEPE price forecast is influenced by the decline of PEPE in correlation with the broader cryptocurrency market. This prompts the question of whether price manipulation by whales is occurring.
The PEPE cryptocurrency saw a brief period of increased activity, mirroring the overall market trends earlier this week. However, this momentum has now subsided, as seen by the coin's indicators displaying indications of diminished strength.
Given the current circumstances, it is reasonable to anticipate that PEPE will experience a regression towards its established long-term support level, indicated by the green line. Consequently, it is plausible that the price may decline to about $0.00000060 before afterwards attaining stability once more.

The prevailing pessimism is substantiated by the decline of the relative strength index (RSI) in the purple zone. Following a partial rebound, the RSI has started to decrease towards the 40 mark, indicating the potential for additional decline until the cryptocurrency reaches a very oversold condition.
Similarly, the 30-day moving average (shown by the colour yellow) of PEPE has exhibited a modest downward trend subsequent to its potential resurgence, indicating that the coin's price is anticipated to decline below the aforementioned indicator as the ongoing selloff intensifies.
Considering the steady decline of PEPE since its peak in early May, it is plausible that the losses observed today may persist in the upcoming days.
As of present, there is no evidence to suggest that whales have capitalised on the market downturn today, as the most recent documented occurrence of whale accumulation dates back to September 30.
It is probable that the aforementioned whales continue to retain the PEPE they obtained on Saturday, indicating their anticipation of an imminent market recovery.
Nevertheless, it is important for retail traders to acknowledge that when such a recovery occurs, it is probable that large-scale investors would sell off their assets in the market, resulting in a subsequent decline in the value of PEPE.
The observed trend displayed by PEPE throughout its very brief lifespan is not unexpected, given its nature as a meme token devoid of practical use.
Therefore, it is plausible that there may be a potential resurgence in value to reach a level of $0.00000080 during the upcoming days or weeks, followed by further depreciation.