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$PEPE is not just drifting lower. It is underperforming even in a weak memecoin market, which says a lot about conviction. A 14.71% weekly drop shows sustained selling, not just random volatility. The daily close below the previous swing low confirmed that the broader structure has turned bearish.
Yes, $0.00000342 has acted as local support and produced a bounce before. But repeated tests usually weaken a level. OBV keeps trending down, meaning buyers are not stepping in with strength. RSI also points to persistent downside momentum.
Even if $BTC pushes toward 70k and triggers a short squeeze, Pepe needs volume confirmation. Waiting for support to flip into resistance may be the smarter play.
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