The weekly chart shows $PEPE reached an all-time high of $0.00002815 in December before dropping to a low of $0.000005678.
The token has since formed a head-and-shoulders pattern, with the head at the peak and the shoulders around $0.00001700. The neckline sits at $0.000005678.
🎯If the pattern holds, a breakdown below the neckline could push the price down by roughly 80%, targeting $0.000001092, a level last seen in February of the previous year.
✅However, if Pepe rebounds and surpasses the right shoulder at $0.00001700, the bearish outlook would weaken, potentially opening a path back toward its previous highs.
