Recently, the cryptocurrency market has undergone a wave of adjustments, and the PEPE coin has not been spared. Following the significant increase in July, its price has fallen back to the lows of June, even facing the risk of dropping below $0.00001. However, with the arrival of a new week, the market has begun to show positive signals, with multiple indicators displaying signs of recovery, raising hopes for a potential new round of substantial increases for the PEPE coin.

Currently, PEPE is in a price consolidation phase, with its price approaching the key support level of $0.00001. Although there has been a slight rebound recently, the bearish pressure in the market may continue.

The cryptocurrency analysis expert MasterAnanda believes that this round of correction is mainly caused by the overall market adjustment, and there are no major issues with the PEPE coin itself. He emphasized that, despite the overall weakness in market trends, encryption assets still demonstrate considerable robustness and resilience. Since the beginning of this year, the market has experienced multiple fluctuations, including the peak in May and the new high in July.

It is worth noting that although the price of PEPE has seen a fall, its trading structure remains solid. The price has consistently stayed between $0.00001 and $0.000011, without breaking through this range. In particular, the low point in June has moved up compared to before, indicating that this pullback has not created a new low, which is a positive signal.

Another encouraging sign is the significant decrease in trading volume. According to Coinglass, during the peak rebound in July, the daily trading volume of PEPE reached an astonishing level of 5 billion USD. By early August, this figure had fallen to around 1.2 billion USD, a reduction of approximately 76% from the peak. Generally, lower trading volume indicates weakened selling pressure, suggesting that the market may be approaching the bottom, which implies that PEPE may be about to rebound from the bottom.

Although the market may still experience fluctuations in the short term, based on these positive signals, some analysts hold an optimistic view on the future prospects of PEPE coin. They believe that as market sentiment gradually improves, PEPE coin could usher in a new round of significant rise. However, investors should still act cautiously, closely monitor market trends, and be prepared for risk management.