PEPE Price Plummets After Violent Weekly Squeeze
On August 27, PEPE is trading at $0.0000038 after a violent weekly squeeze that peaked at 65% on August 24. The cryptocurrency market's broader backdrop is driven by Bitcoin's performance, up roughly 26% month-to-date and hovering near $79,841 this morning.
The RSI for PEPE peaked at 79.59 just 48 hours ago and has since cooled to 71.22, a textbook post-squeeze deterioration. The Bollinger Band %B reading of 0.80 confirms the asset is still hugging the upper band, which can lead to an ugly squeeze unwind when the catalyst has already been digested.
The immediate support for PEPE sits at approximately $0.0000031, with structural support coming in near $0.0000027 and the 200-day SMA around $0.0000033 providing a middle-ground pivot. The bull target that would confirm a genuine trend resumption is $0.0000054, requiring BTC to clear and hold above $81K.