The price of Bibi coin may be in danger as a dangerous pattern is forming

Pepe Coin price joined other cryptocurrencies in a sharp downtrend as the market embraced risk-off sentiment.

baby (baby), the third largest meme coin, fell to $0.0000156, its lowest level since December 20.

This decline coincided with a continuing rise in… Bond yields US stocks and cryptocurrencies fell. The Dow Jones fell 700 points, while the Nasdaq 100 and S&P 500 fell 245 and 35 points, respectively.

Bitcoin (Bitcoin) to $90,000, while the Fear and Greed Cryptocurrency Index moved to a neutral reading at 47. The total market capitalization of all cryptocurrencies fell by 4% to $3.19 trillion.

The ongoing collapse of cryptocurrencies is due to growing concerns that the Federal Reserve will maintain a hawkish tone as the US economy continues to perform well and the unemployment rate declines. Data released on Friday showed that the US unemployment rate fell to 4.1% in December, with the economy adding more than 256,000 jobs. These numbers raised concerns that the Fed will keep interest rates higher for longer.

The next major catalyst for Pepe and other cryptocurrencies will be the CPI report scheduled for release on Wednesday. Economists expect the data to show that headline inflation rose from 2.7% in November to 2.9% in December.

If these estimates are accurate, it could indicate that the Fed will remain hawkish. Officials indicated that they are focusing on controlling inflation rather than the labor market. In addition, some policies proposed by Donald Trump, including deportations and tariffs, are expected to lead to higher prices.

On the positive side, open interest for Pepe Coin futures has remained steady over the past few days. Open interest rose to $438 million on January 13 and has remained at that level. High open interest is often seen as a positive sign for the cryptocurrency, as it indicates continued interest from traders.

Pepe coin price is forming a risky pattern

The daily chart shows that the Pepe token peaked at $0.00002845 on December 9 and has since fallen below its 50-day and 100-day moving averages — a sign that bears are gaining control.

In addition, Pepe formed a head and shoulders pattern, which is a popular reversal indicator. Both the Relative Strength Index and the Percentage Price Oscillator have formed bearish divergence patterns.

A break below the 50% Fibonacci retracement level at $0.00001465 could indicate further downside, which could push the price towards the psychological support level at $0.000010.