$PEPE Price Trapped Between Ascending Triangle and Falling Wedge

The price of $PEPE has been stuck in a tight range, and its chart is building two conflicting patterns at once. One pattern suggests buying the dip, while the other indicates that the dip may not have finished dipping yet.

The daily chart shows an ascending triangle with resistance near $0.00000310, but the weekly chart is inside a falling wedge that has been forming since late 2024 and into 2025. This pattern usually resolves upward once it breaks, but long wedges can grind lower before confirming.

Traders are facing a dilemma as they try to make sense of these conflicting patterns. The daily RSI reads 48.06, indicating that the price is not overbought or oversold, while the weekly RSI reads 39.16, which is below the neutral line but not deep enough to call it oversold.

The token's supply structure is also a concern, with top 100 wallets holding 77.26% of the circulating supply and whale-tier wallets controlling 88.70% of market cap. The Gini distribution score sits at 0.9934, making it one of the most concentrated setups this year.