PEPE Tumbles 19.5% as Website Hack Shatters Confidence
Market Pulse
- PEPE crashed 19.5% this week after hackers compromised the official website, redirecting users to wallet drainers
- Momentum indicators flash oversold territory with RSI hitting 37.86 – lowest reading since August capitulation
- Support architecture crumbles as price trades 79.9% below yearly highs, testing critical $0.0000039 floor
PEPE’s devastating drop accelerated after the website hack hit the wires, triggering stop-loss cascades that erased 19.58% of value in just one month. The meme coin now trades at $0.000003906, down from December’s $0.00000487 peak, as security concerns compound broader memecoin sector weakness. The main question for traders is: can the $0.0000039 support level hold after being tested six times, or will the hack fallout push PEPE into fresh yearly lows?
| Metric | Value |
|---|---|
| Asset | PEPE (PEPE) |
| Current Price | $0.00 |
| Weekly Performance | -15.03% |
| Monthly Performance | -19.58% |
| RSI (Relative Strength Index) | 37.9 |
| ADX (Average Directional Index) | 31.1 |
| MACD (MACD Level) | 0.00 |
| CCI (Commodity Channel Index, 20-period) | -147.39 |
RSI Plunges to 37.86 – Oversold Territory Matches August Washout
Reading the oscillator at 37.86 on the daily timeframe, traders see momentum exhaustion that mirrors August’s capitulation phase. Back then, similar oversold conditions preceded a 40% relief bounce within two weeks, though that rally occurred without the headwind of compromised security infrastructure. The website hack created a trust crisis that traditional oversold bounces struggle to overcome.
So for swing traders, this oversold RSI combined with the security breach means any bounce attempts face immediate selling pressure from holders looking to exit. The weekly RSI at 33.07 confirms the broader trend remains bearish, suggesting even relief rallies should be viewed skeptically until the project addresses security concerns and rebuilds confidence.
ADX at 31.14 Signals Strong Downtrend Acceleration
Trend strength exploded higher as ADX climbed from 18 to 31.14 during the hack-induced selloff. This reading above 30 marks the first time since June that directional movement shows such conviction – unfortunately for bulls, that direction is decisively downward. The shift from choppy consolidation to trending conditions happened precisely as news of the wallet drainer spread across crypto Twitter.
Therefore, day traders should adapt strategies for trending markets rather than range-bound tactics. With ADX confirming strong directional bias and the fundamental backdrop poisoned by security breaches, counter-trend longs face particularly poor risk-reward until this indicator drops back below 25 to signal exhaustion.
Price Trapped Below Entire EMA Ribbon Since Hack News Broke
PEPE’s price action tells a grim story through the moving averages. The token sits deeply underwater, trading below the 10-day ($0.000004116), 20-day ($0.000004330), and crucially, the 50-day EMA at $0.000005097. Each of these levels rejected recovery attempts over the past week, with the 20-day EMA proving especially stubborn resistance during three separate tests.
What’s particularly revealing is how quickly the 10-day EMA flipped from support to resistance after the hack news. This level at $0.000004116 had supported price action throughout early December before becoming a ceiling that trapped late buyers. The 200-day EMA lurks far above at $0.000006415, representing a 64% climb from current levels – highlighting just how severely this security incident damaged market structure.
$0.0000039 Support Faces Sixth Test as Sellers Stack Resistance
Sellers have constructed a formidable resistance wall between $0.000004116 and $0.000004330, where the 10-day and 20-day EMAs converge with psychological round numbers. This zone rejected three separate recovery attempts in the past week alone, each failure accompanied by increasing volume as trapped longs liquidated positions. The hack essentially transformed what was building as accumulation zone into distribution territory.
Bulls desperately defend the $0.0000039 level that’s held through six tests since June, but each bounce shows less conviction than the last. Below this floor, the next meaningful support doesn’t appear until $0.0000032 – a 18% drop that would mark fresh yearly lows. The monthly S1 pivot at $0.0000034 offers minimal cushion between current price and that psychological breakdown level.
This configuration resembles a descending triangle with a weakening floor, especially concerning given the fundamental damage from the security breach. The market structure suggests sellers control the narrative until either the $0.0000039 support definitively breaks or buyers can reclaim the 20-day EMA with authority – neither scenario looks probable near-term given current momentum.
Recovery Requires 20-Day EMA Reclaim Above $0.00000433
Bulls require a decisive close above $0.00000433 to flip the 20-day EMA back to support and signal the bleeding has stopped. Such a move needs to be accompanied by concrete security improvements – new website infrastructure, third-party audits, or similar trust-rebuilding measures. Without addressing the hack’s root cause, any technical bounce faces immediate selling from users who lost confidence in the project’s security.
The bearish scenario accelerates if $0.0000039 support fails on volume, likely triggering a flush toward $0.0000032 as the last remaining longs capitulate. This would trap everyone who bought the “oversold bounce” narrative without considering the fundamental deterioration. A daily close below $0.0000039 essentially confirms the hack created lasting damage beyond a typical memecoin correction.
Given the security breach poisoning sentiment and ADX confirming trending conditions, the most probable path sees PEPE grinding between $0.0000036-$0.0000041 while the team addresses infrastructure concerns. Without meaningful progress on the security front within days, support erosion toward yearly lows becomes increasingly likely as holders lose patience.
