PEPE's Price Squeeze Ends with a Slow Drift Towards Key Support Levels
PEPE's recent price surge has come to an end, at least for now. The meme coin ripped 65% off its base between August 18-25, briefly touching $0.0000043 and its sharpest weekly move since December 2024's all-time high of $0.00002803. However, this was a macro-fueled squeeze piggybacking on Bitcoin's best August since 2017.
As of August 30, PEPE is trading near $0.00000364, roughly 13-15% below its peak and down approximately 10.9% on the week. Momentum has flatlined at a 'neutral' daily RSI of 60.29, which is actually a 13-point collapse in just three sessions.
The technical map for PEPE points to immediate resistance near $0.0000039, $0.0000041 and support below at $0.0000031, $0.0000033. The latter zone is where PEPE spent most of the year before August's explosion, and losing this level on a daily close would make a retest both highly probable and technically significant.