PEPE Price Prediction Could Drop 22% as Meme Coin Hits Major Support

PEPE holders aren't having a good time right now. The meme coin just dropped over 7.5% in 24 hours and broke through some really important support levels. It's now sitting right at what traders call the "neckline" around $0.000012, and that's not where you want to be.

Here's the deal – PEPE has formed a head-and-shoulders pattern on the daily chart. If you don't know what that is, just think of it as crypto's way of saying "big drop coming." The pattern shows buyers tried to push higher three times, failed each time, and now sellers are in control.

The scary part? If PEPE can't get back above $0.000013 quickly, it could crash all the way down to $0.000009. That's a brutal 22% drop, and for a meme coin that's already pretty wild, that kind of move can really sting.

Trading volume actually went up 4.5% during this mess, which usually means people are serious about selling. The weekly drop of 20% already showed the uptrend was breaking down, and now we're seeing it play out in real time.

PEPE  Faces Critical Test at Support

The technical stuff is pretty clear – PEPE is in trouble. It's testing that crucial $0.00001220 neckline right now, and if it fails to hold, that 22% drop becomes very real very fast.

There's one small bright spot though. The Chaikin Money Flow sits at 0.02, suggesting some people are still buying the dip. But honestly, it's not nearly enough to turn this ship around. It's like trying to stop a freight train with a feather.

The key level everyone's watching is $0.000013. If PEPE can close above this level, it kills the bearish pattern and shows buyers still have some fight left. But if it can't? Well, hello $0.000009.

Crypto analyst VegetaCrypto1 thinks PEPE "should sweep tomorrow or day after" before recovering, suggesting this might be a fakeout to shake out weak hands before bouncing back.

PEPE  On-Chain Data Tells the Story

The numbers behind the scenes aren't helping PEPE's case either. Exchanges saw $1.92 million in net PEPE inflows over the past 24 hours – that's crypto-speak for "people are moving their coins to sell them."

When you see big exchange inflows during a price drop, it's usually bad news. It means holders are getting ready to dump, which puts even more pressure on the price.

The derivatives market is even more telling. Traders opened $10.85 million in short positions at $0.00001248, nearly double the $5.92 million in longs at $0.00001152. When the smart money is betting this heavily against something, you better pay attention.

Everything's pointing to more pain in the short term. The chart pattern is bearish, people are moving coins to sell, and professional traders are betting against PEPE. Unless buyers show up in a big way or some good news hits the meme coin space, that 22% crash could happen sooner than anyone wants.

For PEPE holders, the next couple days are make-or-break time. Either it finds support and starts climbing back, or we get to see that textbook head-and-shoulders pattern play out exactly like it's supposed to.