PEPE price tests key $0.00000342 support as memecoin weakness signals risk for bulls

PEPE has fallen 2.66% in the last 24 hours and 14.71% over the past week, making it one of the weakest major memecoins as it retests local support near $0.00000342. Technical indicators on both the daily and hourly charts show a bearish structure with declining OBV and weak RSI, suggesting sellers remain in control. Traders are watching the $0.00000358–$0.0000037 retracement zone for potential short setups, while a move above $0.00000379 would invalidate this view.