PEPE Plummets 67% in a Bearish Market Shift

PEPE drops 67%, completing a bearish head-and-shoulders pattern.

Open interest declines, hinting at possible short-term stabilization or rebound.

Community engagement surges with over 44,000 X interactions despite price weakness.

PepeCoin — PEPE, kicked off November with turbulence. The popular meme-inspired token tumbled nearly 20% this week, putting traders on edge. Many hoped for a quick rebound, but analysts see more downside risk. Ali Martinez, a respected crypto strategist, warns that PEPE may face a deeper slump. His analysis points to a bearish head-and-shoulders pattern that could send the coin far lower if selling continues.

Analyst Sounds the Alarm

Analyst Ali Martinez highlighted a worrying formation on PEPE’s chart that began in late 2023. The pattern appears complete, with a decisive break below support signaling more weakness ahead. According to his forecast, PEPE might drop to $0.00000185, translating to a staggering 67% fall from current levels. The meme coin has struggled throughout 2025, losing over 72% of its value since January. While Bitcoin and other top cryptos have shown signs of recovery, PEPE remains trapped in a downward spiral.

At the moment, PEPE trades near $0.0000056, hovering just above a critical support zone around $0.0000055. Daily trading volumes have also dipped by half, suggesting fading interest among short-term traders. Data from CoinGlass shows a sharp decline in open interest across PEPE futures. The figure has hit the lowest point since April, hinting that many traders have closed their positions. Some analysts see this as a pause before renewed momentum, while others view it as a sign of fading confidence.

Whale Optimism and Community Resilience

Despite the current bearish pressure, some large holders are optimistic on PEPE’s future. One prominent whale believes that if PEPE climbs toward $0.0000090, it could reignite buying pressure. Sustained momentum beyond $0.000012 might pave the way for a larger rebound toward $0.000025. This scenario, while ambitious, depends on renewed trading activity and a shift in sentiment. Meanwhile, the Pepe community has not lost its spirit.

On November 5 and 6, enthusiasts generated over 44,000 engagements on X, flooding timelines with memes, greetings, and celebrations of the beloved frog token. This level of engagement highlights a loyal fanbase determined to keep the coin alive, regardless of market direction. Still, enthusiasm alone may not be enough to offset technical weakness. Analysts urge caution, noting that even meme coins rely on broader liquidity and sentiment trends.

If PEPE fails to hold above key levels, the next few weeks could test investors’ patience once again.For now, PEPE’s future hinges on whether the market treats the recent drop as a buying opportunity or the start of a longer decline. Traders watching the chart will likely focus on the $0.0000055 support zone for signs of a potential rebound.