PEPE Price Hits Oversold Levels for Third Time in History
The crypto market downturn has led to the meme coin PEPE reaching oversold territory, as indicated by the Relative Strength Index (RSI). This marks only the third occurrence of such a condition in PEPE's history.
- Previous oversold instances were followed by strong recoveries after about one month of consolidation.
- PEPE's current price is $0.000009544, which is 65.8% below its all-time high of $0.00002803 from December 9, 2024.
- Historically, after entering oversold conditions, consolidations lasted approximately 31 days before an upward trend began.
- Investors may view this period as an accumulation phase ahead of a potential rally starting around March 10.
This pattern suggests that if past trends hold, PEPE could aim for new highs following the expected consolidation phase.
