PEPE Price Faces Decline Amid Weak Market Sentiment

The recent decline in PEPE's price, along with decreases in Open Interest and trading volume, has raised concerns about the coin's market sentiment.

Data from Coinalyze shows that speculators have been exiting the market, indicating a lack of trust in a potential bounce. This is further supported by CryptoQuant data, which reveals a seller-dominated 90-day Futures Taker CVD.

The bearish swing structure in PEPE's price trend suggests that the coin may struggle to breach its local resistance zone at $0.0000040. Meanwhile, the momentum remains faintly bullish, but with capital outflows still occurring.