PEPE has been under bearish pressure over the last 24 hours, showing a decline of nearly 8.19%. This mirrors broader market weakness and indicates short-term hesitation among traders. Despite the recent slump, PEPE posted a weekly gain of 5.75%, highlighting continued investor interest.
At the time of writing, the token is trading at $0.00001077 with a 24-hour trading volume of $958.31 million, down 28.46% from the previous day. The market capitalization has also decreased to $4.53 billion, reflecting an 8.26% drop. Analysts emphasize that while short-term fluctuations may persist, the underlying momentum suggests that PEPE could reverse sharply if bullish conditions align.
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Chart analysis reveals a symmetrical wedge pattern forming since early 2025. Price has been oscillating between a descending resistance near $0.00001476 and ascending support around $0.00000800. The token is currently trading just below the wedge’s upper boundary at approximately $0.00001127.
Technical analyst Smith highlights that PEPE is pressing at resistance with momentum building rapidly. The price rally from $0.00000800 to over $0.00001180 shows clear buying interest. The breakout might be certified by a clear-cut rise above $0.00001476, propelling PEPE to $0.00002583 and $0.00002837.
Traders could also see a breakout zone test back in as confirmation, which is to be expected in healthy bull setups. The caution remains that if the token fails to sustain above $0.00001127, it will drop down to wedge support at $0.00000800, which will nullify the bull argument.
PEPE’s derivatives market shows a complex interplay between price, open interest, and trading volume interaction. Open interest has declined by 10.60% to $696.32 million, showing a short-term retracement in trader positions. However, trading spikes signal persistent speculative action and fast adjustments in positions.
The OI-weighted funding rate is at 0.0102%, mildly positive, showing that traders remain cautiously bullish. The activity in the derivatives market remains strong, with investors assuming cautious stances as market developments keep playing out.
Traders will want to see a positive candle close above the wedge resistance line with rising volume. On confirmation, it might lay the foundation for the token to reach its projected upside objectives while being vigilant about pullbacks.
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