Crypto Expert Warns of Possible 70% Crash for Memecoin Pepe

NEW YORK, NY — Cryptocurrency analyst and trader Ali Martinez is alerting investors that the popular memecoin Pepe is poised for a steep decline amid current market conditions. Martinez, who has a following of 128,900 on the social media platform X, indicated that Pepe’s recent drop below its established support level could trigger significant selling pressure.

Martinez noted that since March 2024, Pepe has consistently fluctuated between a lower support trendline and an upper resistance trendline. However, breaking below the support trendline is a troubling signal. “Now a spike in selling pressure could push Pepe into a 70% price correction towards $0.00000316,” Martinez said.

As of now, Pepe trades at approximately $0.00000769, representing a 73% decrease from its high of $0.00002803 recorded in December 2024. A parallel channel indicates that Pepe was previously on an upward trajectory; however, the breach of the diagonal trendline suggests that this uptrend is now invalidated.

Moving beyond memecoins, Martinez turned his analysis to Bitcoin. He pointed out that the moving average convergence divergence (MACD) indicator is currently showing a bearish signal for Bitcoin on a weekly basis. “Every time the MACD has a bearish crossover on the weekly chart, Bitcoin has historically seen an average 40% correction. The MACD just flashed another bearish crossover!” Martinez explained, highlighting the indicator’s significance in analyzing market momentum.

Bitcoin is currently trading at $81,645 at the time of reporting. The analysis did not stop there; Martinez also addressed the position of Solana. He stated that the asset must maintain its support level around $125. According to Martinez’s chart analysis, if this support fails, Solana could potentially drop below $70. Currently, Solana is valued at $143.

This collection of market forecasts illustrates the volatility of cryptocurrency trading, emphasizing the need for cautious investment strategies as the market landscape continues to shift.