Altcoin
PEPE’s 64% Drawdown Theory: Analyst Reveals The Level To Hold Amid Massive Price Crash
An analyst on social media platform X has highlighted a crucial support level for PEPE, as the meme coin faces a significant drawdown from its recent highs. Based on historical price trends, the analyst noted that PEPE has consistently experienced an average drawdown of approximately 64% following each local peak. The ongoing correction has placed PEPE around this retracement level, and the meme coin is now in a precarious position where its ability to maintain support could determine whether it stabilizes and resumes an upward trajectory or falls into deeper decline.
PEPE’s Historical Drawdowns And The 64% Correction Pattern
Price data from CoinGecko reveals that PEPE, the popular meme coin, is currently down by approximately 67.3% from its all-time high of $0.00002803, which it reached on December 9, 2024. Notably, the recent downturn intensified with a sharp 25.3% drop in the past 24 hours due to the broader decline across the crypto market.
A crypto analyst on social media platform X highlighted a recurring pattern in PEPE’s price history, noting that the meme coin tends to experience an average drawdown of around 64% following each local peak before stabilizing and rebounding. This trend has repeated multiple times on the weekly candlestick timeframe, reinforcing a consistent cycle of sharp corrections and subsequent recoveries.
The first major retracement occurred between March and April 2024, when the asset declined by 63.75% after reaching an all-time high of $0.000010003. This correction, while severe, eventually led to a strong rebound, allowing PEPE to set new highs. A similar scenario unfolded between May and July 2024, when the meme coin suffered a 66% decline before regaining bullish momentum, ultimately pushing its price to its current all-time high in December.
As noted by the analyst, these periods of declines after reaching a new high have always been propped up by the 50 EMA indicator. At the time of writing, PEPE is now trading around this EMA, and its ability to maintain its position above it is crucial for avoiding a deeper decline. If the price holds at this level, it could mark the beginning of a recovery, whereas a strong breakdown below it might trigger further selling pressure.
What’s Next For Price?
The overall cryptocurrency market cap has declined by approximately 10% in the past 24 hours, contributing to a bearish sentiment surrounding PEPE. This widespread market downturn increases the risk of extending the meme coin’s breakdown below the 50-week exponential moving average (EMA). The latest weekly candlestick has already shown signs of slipping below this critical support level, and the prevailing bearish momentum could further solidify this move if selling pressure persists across the market.
At the time of writing, PEPE is trading at $0.000009279, while the 50-week EMA sits around the $0.000011 mark. This indicates that the meme coin has already fallen approximately 15% below this support level. However, the situation is not entirely bad. Given the heightened volatility over the past 24 hours, a quick market recovery could see the meme coin rebounding alongside broader crypto assets and return to retesting resistance at $0.00001313.
Featured image from Medium, chart from Tradingview.com
After a steep fall to $0.40 earlier this week, the Pi Network price bounced back to $0.60 levels, with its market cap above $4.1 billion. However, on-chain data shows that investors’ interest in the Pi Coin is waning quickly, with daily trading volumes dropping another 44% to $158 million. Analysts point out that the increasing supply of PI tokens at the exchanges can further dampen the upside and could put the ecosystem growth in the shadows.
Why Is Pi Network Investor Sentiment Down
Pi Network community member Edycabas recently shared his take on the collapse of transaction activity on the blockchain. He noted that the Pi blockchain is underwhelming, reportedly processing less than one transaction per second, despite years of promotion suggesting thousands of transactions per block during its Open Mainnet phase.
Responding to this, another community member, Dr Altcoin, noted that the blockchain itself remains operationally robust, boasting a 99.5% transaction success rate and averaging 20 transactions per block. “The real issue lies in transparency concerns surrounding the co-founders, which continue to deter major investors and centralized exchanges (CEXs),” he said.
Besides, Dr Altcoin also shared aspirations for the Pi Network price to reach a minimum token value of $10, which, as per the analyst, would significantly boost engagement with decentralized applications (DApps) and broader adoption. Dr Altcoin has also previously suggested for Pi token burns to boost the Pi Coin price higher.
Pi Coin Core Team Lacks Transparency
Dr. Altcoin has also questioned the Pi Network co-founders’ reluctance to engage publicly, urging them to address the community and investors. “Why do the co-founders avoid interviews?” Dr. Altcoin asked, adding that the “Pi Community has kept this project alive for years, and it deserves greater recognition”.
Dr. Altcoin stressed that co-founders Nicolas Kokkalis and Chengdiao Fan must step up to showcase the project’s potential to prevent the token from declining further, warning of a possible Pi Coin price dip below $0.30 in the coming week.
Crypto analyst Dr. Altcoin has issued a statement predicting significant activity on centralized exchanges (CEXs) as unlocked Pi tokens flood the market. Starting next week, an average of 134 million Pi tokens will reportedly enter circulation monthly.
Bhushan Akolkar
Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Grayscale, a leading digital asset manager, has revealed the latest update to its “Assets Under Consideration” list for the second quarter of 2025.
The list includes a diverse array of altcoins that could likely shape the firm’s future offerings.
Grayscale Removes Kaspa and Other Key Altcoins in Q2 2025 Update
In this latest iteration, Grayscale’s “Assets Under Consideration” list features 40 altcoins. The update indeed marks a significant overhaul of the firm’s January 2025 list, which had 39 assets. Previously, 35 assets were included in the October 2024 version.
“We’re excited to share this list of assets under consideration for inclusion in future Grayscale investment products,” the blog read.
| Grayscale Crypto Sector | Assets Under Consideration |
| Smart Contract Platforms | Aptos (APT) Arbitrum (ARB) Babylon* Berachain (BERA)* Celestia (TIA) Hedera Hashgraph (HBAR) Mantle (MNT) Monad* Movement (MOVE)* Toncoin (TON) TRON (TRX) VeChain (VET) |
| Financials | Aerodrome (AERO) Binance Coin (BNB) Ethena (ENA) Hyperliquid (HYPE) Jupiter (JUP) Lombard* Mantra (OM)* Maple (SYRUP)* Ondo Finance (ONDO) Pendle (PENDLE) Plume Network (PLUME) |
| Consumer & Culture | Aixbt by Virtuals (AIXBT) Eliza (ELIZA)* Immutable (IMX) Story (IP) |
| Utilities & Services | Akash Network (AKT) Artificial Superintelligence Alliance (FET) Arweave (AR) DeepBook (DEEP)* Eigen Layer (EIGEN) Geodnet (GEOD) Grass (GRASS)* Helium (HNT) Jito (JTO) Prime Intellect* Sentient* Space and Time* Walrus (WAL)* |
One of the most notable changes is the removal of Kaspa from the list’s currencies section. Notably, this update does not include any assets in this category.
Additionally, Grayscale has excluded Sei, Sonic, and Starknet from the smart contract platforms category. The financials sector also saw some changes, with the asset manager dropping THORChain and Injective Protocol from the list.
The Consumer and Culture category has also seen removals of Ai16z and Virtuals Protocol. Lastly, Grayscale has eliminated Flock.io, Hyperbolic, and Worldcoin from the Utilities and Services category. This reduction hints at the firm’s recalibration of what it considers to be foundational utilities in the changing crypto sector.
New Asset Additions for Q2 2025
Meanwhile, these removals have paved the way for the addition of several assets, including VeChain. It is now incorporated into the smart contract platforms category, signaling a growing interest in the project’s potential. Moreover, Plume Network was spotted in Financials and Aixbt by Virtuals in Consumer and Culture.
Previously, Grayscale’s Q2 2025 Top 20 list highlighted Maple Finance, Geodnet, and Story for their strong growth potential. IP, which was previously listed under Utilities and Services, has now been moved to the Consumer and Culture category. Meanwhile, SYRUP has been added to the Financials category, and GEOD has joined Utilities and Services.
Grayscale’s Q2 2025 update also introduces several assets that have yet to be classified under the Grayscale crypto sectors framework. Among these new additions are Babylon, Berachain, Monad, Movement, Lombard, Mantra, Eliza, DeepBook, and Walrus. Prime Intellect, Sentient, Space, and Time, which were featured in the last list, are also included.
“We aim to update this list as frequently as 15 days after quarter-end as the crypto ecosystem expands and the Grayscale team reviews or reevaluates additional assets. The list below is as of April 10, 2025, and is subject to change intra-quarter as some multi-asset funds reconstitute and we launch new single-asset products,” Grayscale noted.
Furthermore, two assets that previously appeared on the list, Pyth Network (PYTH) and Dogecoin (DOGE), have now joined Grayscale’s product suite. On January 31, the asset manager launched the Grayscale Dogecoin Trust.
Shortly after, on February 18, Grayscale introduced its Pyth Trust. Thus, the market now watches closely to see which of the listed assets will transition from consideration to reality.
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The renowned blockchain ecosystem BNB Chain has achieved a monumental stride this Friday, revealing that it completed the Lorentz testnet hardforks. According to an X post on April 10, this upgrade on the blockchain ecosystem brings faster blocks and smoother performance. “opBNB is now running at 0.5s block times & BSC testnet is live with 1.5s block times,” the X post added.
BNB Chain’s New Hardforks Boast Faster Blocks & Smoother Performance
BNB Chain revealed that the Lorentz Hardforks reduces opBNB block times to 0.5 seconds and BSC testnet to 1.5 seconds, offering its user base faster and smoother operations. opBNB is a layer-2 scaling solution built atop BSC, a layer-1 blockchain.
Notably, with the ecosystem upgrade, builders, validators, and users remain poised to witness a more responsive blockchain. Faster block times mainly bring increased throughput but risk syncing issues for dApps not designed for such speeds.
The blockchain’s team urged node operators and developers to upgrade and test dApps to check the upgrade’s compatibility.
Timeline For Mainnet Launch On BNB Chain
- opBNB mainnet hardfork will take place on April 21 at 03:00 AM UTC.
- BSC mainnet hardfork will take place on April 29 at 05:05 AM UTC.
Binance’s blockchain ecosystem is aiming to foster faster and smoother operations by the end of April, given the abovementioned advancements. This development could in turn magnetize more developers, builders, and users toward the ecosystem.
Native Coin Retaliate On This Development?
At the time of reporting, BNB coin’s price traded at $579.45, up marginally by 0.2%. The blockchain’s native token is currently consolidating within a tight range of $567 and $579.
Crypto market traders and investors have kept the coin on their radars as the abovementioned advancements could fuel more demand for the token. Also, BNB Chain can witness a flurry of activity ahead as it enhances its ecosystem’s potential with upgrades. A BNB coin price prediction by CoinGape further revealed that bulls are currently in control, as per the 3-month bias indicator.
As a result, market sentiments orbiting the coin are optimistic and investors could see a price rally ahead, although it’s worth mentioning that the broader crypto market faces immense pressure amid Donald Trump’s tariff flip-flopping.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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