$PEPE 's stabilizing after a brutal shakeout, holding firm above a major demand zone. The chart's telling a consolidation story, not a breakdown.
๐ PEPE's found its footing after getting hammered. The daily chart shows a sharp correction that's now shifting into sideways action. After that aggressive flush lower, things have cooled off into a tight range. Recent analysis shows this looks more like the market healing itself than rolling overโprice is sitting above critical demand instead of carving out new lows.
๐ The chart tells a clear story. Heavy selling pressure got absorbed hard near the lowsโyou can see it in that long downside wick and the volume spike. That's usually where forced sellers capitulate. Since then, PEPE's been chilling above that shaded demand zone while volatility died down and candles got smaller. Sellers aren't pushing with the same force anymore.
๐ Structure matters here. PEPE hasn't made lower lows like you'd expect in a real downtrend. Instead, it built a base. Volume's normalizing after that initial surge. Sure, there's resistance overhead from earlier consolidation, but the lack of fresh impulsive selling suggests the market's finding its balance again. This is textbook behavior during reset phases in speculative assets.
๐ Why this matters for meme coins. PEPE often acts as the canary in the coal mine for meme coin sentiment. When price holds demand after a violent shake, it usually means overleveraged positions got flushed out. No confirmation of direction yet, but PEPE staying supported puts it back on the radar as this consolidation plays out. What happens nextโwhether this base launches into momentum or settles into rangeโwill set the tone for similar high-volatility tokens.
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