Pepe Coin is Going to Zero as PEPE Price Falls 20% in a Week and Thug Life Token Just Raised Almost $1 Million With Less Than 7 Days Left

cryptonews.com:

The price of Pepe Coin (PEPE) has risen by 4% in the past 24 hours, although its move to $0.00000152 today still means that it's down by nearly 20% in the past week.

And while PEPE is actually up by 60% in the last 30 days, it remains down by 64% since hitting an all-time high of $0.00000431 in early May.

Its inability to come close to this record high in recent weeks would suggest that PEPE is not going to regain its former glories, and that the meme token is in the drawn-out process of a terminal decline.

However, new meme tokens are likely to take its place, with the ability of Thug Life Token (THUG) to raise nearly $1 million in its presale indicating that it could be one of the next trending coins.

PEPE's chart is not in a great position right now, with its indicator suggesting that further falls are very likely possible.

PEPE's 30-day moving average (yellow) continues to fall towards its 200-day (blue), with there being plenty of space left before it drops below the longer term average and bottoms out.

At the same time, the meme token's relative strength index (purple) is languishing below 50 and doesn't look like it will rise any higher at the moment, with a drop towards 30 or lower entirely plausible.

It's also worth mentioning that PEPE's support level (green) hasn't really gained any ground in the past couple of weeks, implying that the token not only lacks momentum but maybe isn't well-protected against further drops.

However, while it could be suggested that PEPE isn't going to do much in the forseeable future, it's interesting that whales continue to use the meme token as a vehicle for short-term gains.

As such, the coin could continue witnessing modest rallies in the next few months, potentially enabling retail