PEPE, a coin born from an internet meme, is well known to those who have played with it. That wave back then was also very fierce, and countless people achieved wealth leaps through it. Now the market has cooled down, PEPE has dropped from its high, but it’s not dead — the community remains active, data is still moving, and you can often see some clues.

Recently, I looked at the chart. PEPE is hovering around a few cents, with a 24-hour decline of 2.9%. In the short term, it’s being pressured by bearish patterns and selling pressure. Interestingly, the price is approaching the lower band of the Bollinger Bands — which usually indicates limited downside and may instead be forming a support here. More importantly, the 6-period RSI has fallen to 23, firmly in oversold territory. Such conditions often signal a potential rebound, making the rhythm worth paying attention to.

Although the price isn’t as crazy as back in the day, the community’s enthusiasm hasn’t faded. Over the past six months, user participation and discussion heat have more than doubled, indicating that some people are still actively playing with it. For meme coins, the community is the lifeblood — popularity means stories.

Looking at trading volume, it’s quite solid — 24-hour trading volume reaches hundreds of millions of dollars, with ample liquidity and no pressure to enter or exit. In terms of moving averages, the short-term MA is still above the long-term MA, and the medium-term pattern remains intact. The logic of this bottom support still holds up.