Pepe Sinks Below Key Moving Averages After Brief Relief from Short Liquidations

Pepe (PEPE) is trading at $0.0000042, down 7.22% for the day.

The price sits below its key short- and medium-term moving averages, indicating ongoing pressure from sellers.

A wave of $670,000 in short liquidations across three exchanges temporarily alleviated downside pressure by triggering automated buy orders.

However, prevailing sentiment remained cautious in the aftermath, and PEPE/USD trades below its MA-20 level at $0.000004324 and MA-50 at $0.000004387 on the hourly chart.

The Ichimoku Kijun sits at $0.00000441, forming immediate resistance. Momentum readings are weak, with MACD signaling strong sell and RSI at 40.85 indicating selling conditions.