Pepe (PEPE) surged 956% over the past year but faces potential losses despite hitting an all-time high in May. At $0.0000073, PEPE is nearing key Exponential Moving Averages (EMA), signaling a crucial point. A convergence of the 20- and 50-day EMAs could either lead to a rally or further decline depending on market momentum.

On-chain data suggests bears are gaining control, as shown by BeInCrypto’s Bulls and Bears indicator. With more sellers than buyers, PEPE may face a downturn.

The In/Out of Money Around Price (IOMAP) metric reveals resistance at $0.0000080, with over 34 trillion PEPE tokens held at a loss, indicating a struggle for price gains.