Analysts name the main reasons for the fall of PEPE cryptocurrency by 24%

The value of the PEPE memtoken has shown a 24% drop over the past 10 days, which has significantly affected investors. Fear of losses has led to a five-month low in participation as PEPE holders refrain from conducting transactions on the network.

According to online metrics, the coin suffered from low user participation throughout the second quarter. This trend could continue in the third quarter if broader market signals do not favor a recovery, experts said.

However, such a turnaround will require a change in sentiment on the crypto market, which is currently under the influence of fear. The Fear and Greed Index emphasizes that investors were afraid of potential losses last week.

However, the crypto market is currently showing slightly bullish signals. These signals could lead altcoins to recover. The price of PEPE may also benefit from this and recover from three-week lows.

Cryptocurrency analysts see bullish sentiment for PEPE despite the continued bearishness. This is because the overall picture of the coin is still quite unattractive. Over the past five weeks, the token has been in consolidation.