PEPE’s outlook turns cautious | Credit: Hameem Sarwar
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Key Takeaways
PEPE ended August on a bearish note, with price action stuck in a descending channel.
Key PEPE support sits at $0.0000096; failure to hold this level could drag it down.
A rebound remains possible if demand strengthens, with resistance targets at $0.000011.
Frog-themed memecoin Pepe (PEPE) ended August on a bearish note, closing the month at a lower value than when it started. A new month begins today, and traders may hope September fares better.
As of this writing, PEPE’s price is $0.0000096. In this analysis, CCN breaks down the key levels to watch that could make or mar the memecoin this month.
PEPE Faces Crucial September
On the 4-hour chart, PEPE is trading within a descending channel, reinforcing its short-term bearish outlook. The MACD has formed a bearish crossover, while the Awesome Oscillator (AO) has slipped into negative territory.
With these conditions, PEPE’s price is unlikely to break above resistance at $0.000011 and $0.000013. Instead, the key level to watch will be the support at $0.0000086, which could determine whether the memecoin stabilizes or extends its decline.
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Beyond the current decline, the broader sentiment around PEPE remains bearish. When the overall market mood is negative, traders tend to shy away from riskier assets like memecoins.
This leads to lower demand and weaker price action.
In other words, bearish sentiment fuels hesitation among buyers and accelerates profit-taking among holders, which can cap any attempts at recovery. In PEPE’s case, this means that even if technical setups suggest a potential rebound, a lack of market confidence could prevent follow-through.
As a result, expecting a breakout in September may not align with reality, unless sentiment shifts and traders regain confidence in the token’s upside potential.
PEPE Price Prediction: Turnaround?
Looking closely at the chart, the Fibonacci retracement indicator highlights key levels to watch for PEPE. The first major support sits at $0.0000096, near the horizontal support and the 0.382 Fib level.
If the memecoin breaks below this zone, the bearish case strengthens, with PEPE’s price at risk of dropping toward $0.0000080. Continued weak sentiment would only reinforce this downside pressure.
On the other hand, a bullish scenario remains possible. If buyers defend support and push it higher, PEPE’s price could retest $0.000011 before targeting $0.000012.
In a stronger breakout, September’s trading activity could propel the token toward $0.000019.
In short, PEPE’s outlook for the month is finely balanced: failure to hold support points to deeper losses, while renewed demand could spark a sharp rebound.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
