In the last 24 hours, Pepe's value saw a significant decrease of 17%, dropping its price to $0.000007162, and the trading volume decreased by 20% to $1.54 billion. This drop follows the gradual growth of Pepe, which set a new all-time high (ATH) on March 14, facing a sell-off in the meme coin sector. Technical analysis shows that Pepe price has fallen below the 50-day simple moving averages on the 4-hour chart. However, the bulls are currently trying to keep the price above the 200-day SMA, which is the main resistance level. The Relative Strength Index (RSI) indicates that a return from an oversold situation is possible, indicating a bullish outcome if momentum recovers.