Pepe (PEPE) is currently trading at $0.000012, reflecting a 4.02% decline over the past 24 hours. The daily price range has been tight, with a high of $0.00001256 and a low of $0.00001183, indicating a market under pressure amid lower trading volumes of approximately 758 million.

The technical indicators are revealing a bearish sentiment, with all short-term moving averages (8 SMA, 13 SMA, 21 SMA, 55 SMA) showing negative trends ranging from -2.23% to -3.77%. The 1-hour RSI is positioned at 31, suggesting oversold conditions, while the 7-day RSI at 45 indicates a lack of bullish momentum over the week, aligning with the recent price declines of nearly 17% over the last week.

Fundamentally, Pepe’s price has experienced a significant 14% drop over the past 14 days, despite a strong 51% rally in the last 30 days. However, the current price remains far below its all-time high of $0.00002803, emphasizing that the asset is still in a corrective phase following recent volatility.

Given the current price trends, RSI indicators, and the significant recent declines, the market sentiment for PEPE leans towards caution. The combination of bearish technical signals and declining volume suggests that further downside risk is present, making it advisable for traders to adopt a conservative approach.

Overall, the recommendation for Pepe (PEPE) is a Hold. Although the asset has potential for a recovery given its prior gains, current technical indicators suggest that entering new positions now may expose investors to further losses in the short term.