The 2-hour chart of $PEPE /USDT is the textbook image of a meme coin rally—explosive, emotional, and fast-moving. In just a few days, PEPE surged from as low as 0.00000758 to a recent peak of 0.00001406. That’s nearly a 2x move, and the buzz was loud. But as we all know, what rockets up doesn’t always glide gently down, and we’re starting to see signs of hesitation.
At the current price of around 0.00001276, PEPE is cooling off from its recent high. This pullback, though not steep yet, is crucial to watch. Volume has dropped significantly since the peak, suggesting traders are catching their breath. Momentum is no longer accelerating, but rather consolidating. It's a moment of decision: continuation or correction.
What’s encouraging for bulls is the way the price is holding above the 0.00001200 zone. This could develop into a base for the next leg up if buyers step back in with conviction. The bid side of the order book looks stronger than the ask, with over 62% of market participants leaning toward buying. That’s a positive signal—but without volume and a breakout above 0.00001400, it could remain stuck in this sideways chop.
This coin has gained over 93% in the last 30 days and 55% just in the past week. However, the -4.49% drop today and flattening candles are gentle warnings: this rally needs fuel, or it risks fizzling. If PEPE fails to break through resistance and drops below 0.00001200, we could see a slide toward the 0.00001050–0.00001100 region.
The short-term trend is neutralizing after a parabolic move, which is typical for meme coins. If it holds support and volume returns, another explosive leg is possible—maybe even past the 0.00001500 barrier. But if enthusiasm dries up, PEPE might retrace more of its gains. For now, it’s a tug-of-war between holders hoping for a moonshot and early profit-takers cashing out. Either way, PEPE’s next big move is likely brewing just beneath the surface.
