"PEPE Tests Crucial Support as Crypto Market Corrects"

PEPE, a memecoin, has been navigating a challenging market landscape following a broader correction in the crypto sphere. Its price action has been testing crucial support levels, with the coin trading around $0.00000822. This bearish momentum has been confirmed by multiple Breaks of Structure (BOS) below the $0.00000900 mark.

Recent trading activities have seen liquidity sweeps below the $0.00000800 mark, suggesting this level could act as a potential bounce zone for price rebounds. This was evident after a run on the equal lows that saw a short rally to the upside. However, for PEPE to signal a possible shift in sentiment from bearish to bullish, it needs to reclaim levels between $0.000009 and $0.00001.

If PEPE can sustain above $0.00001, it could trigger an uptrend and entice investors looking for entry points during this dip. Conversely, failure to maintain support could lead to further declines, with PEPE potentially testing lower support levels at $0.00000700. This scenario could reinforce the current bearish trend, making it essential for investors to watch for sustained closures below current support as a sign of continued market weakness.

Despite the bearishness, PEPE showed signs of stabilization following a tumultuous two-day spike in total liquidations. Data indicated significant cooling off, with both short and long-position liquidations decreasing sharply. For example, on Binance alone, short liquidations dropped to $7.05m from $63M and $22M in the last two days. Long liquidations were at $11.13M, reflecting reduced volatility.

This easing could suggest that traders are becoming cautious, potentially waiting for clearer signs of direction amidst the ongoing correction. As liquidations decrease, it could provide a more stable environment for PEPE to regain strength. Conversely, another spike in liquidations could lead to further price declines, urging investors to stay vigilant.

Despite the recent market dip, the number of large transactions for PEPE has remained consistent, with no significant spikes or drops. The transaction count stood at 337, mirroring the steady trend observed throughout early 2025. This flat