Pepe (PEPE) Price Drops 5.86% on Account Hack Alert: Trader Warning

Pepe (PEPE) token is seeing big price moves because there‘s worry its social media platform X account has been hacked. Heads up to Investors:: don’t be interacting with that account for now.

Meanwhile, PEPE‘s price is sliding, following the general market mood. The token’s latest price action is all over the place. So now, traders are keeping a close eye on support and resistance levels to see where things might go next.

PEPE Price Keeps Falling

PEPE is currently trading at $0.00006755, marking a 5.86% decline in the past 24 hours. The tokens market capitalization stands at $2.84 billion, while its 24-hour trading volume has increased by 1.46% to $546.64 million.

The price has been heading downwards, making lower highs and lower lows. It bounced back a little after a fast drop, maybe trying to find its footing.

Key Support at $0.000066 and $0.0000645

Market watchers are focused on support and resistance zones that could decide where PEPE goes next.

Support right away is around $0.000066. Buyers showed up there before. Below that, stronger support is at $0.0000645. It bounced up from there before, so its a key level to watch for buying.

But, resistance right away is near $0.000071. It hit a high there, which saw selling. Above that, tougher resistance is at $0.000074. The price got turned back pretty strongly there before. If it can break above these levels, bulls might get back in charge.

RSI Getting Close to Oversold

The RSI is currently at 33.39, getting close to oversold. If it drops below 30, it could mean a reversal, or at least the price settling down for a bit.

MACD (Moving Average Convergence Divergence): The MACD line and signal line are still negative. This confirms bearish momentum is still going. The histogram also looks weak, meaning selling pressure is still around.

According to Coinglass data, the PEPE derivatives market is busier. Trading volume jumped14.08% to $403.72 million. Open interest also rose2.95% to $201.03 million, meaningmore traders are active in contracts.