Pepe (PEPE) is currently priced at $4.77E-6, reflecting a significant decline of 4.80% over the last 24 hours. The daily trading range has remained tight, with a high of $5.04E-6 and a low of $4.70E-6, indicating a lack of strong momentum in either direction.

Volume stands at 322,057,386, contributing to a volume-to-market cap ratio of 16.01%, suggesting a moderate level of trading activity relative to its market capitalization. The short-term moving averages are predominantly bearish, with the 8 SMA at $0.00000489 showing a decline of 2.39%, indicating a downward trend in the immediate price action.

The RSI values indicate oversold conditions, with the 1-hour RSI at 30 and the 7-day RSI at 39. This points to potential buyer interest in the near term; however, the negative price changes over the past 7, 14, and 30 days (-22.04%, -27.00%, and -28.43%, respectively) highlight ongoing bearish sentiment.

Historically, PEPE reached an all-time high of $0.00002803, which serves as a benchmark for potential recovery. However, given the current pricing, the token is significantly below that level, indicating the necessity for strong buying pressure to reclaim previous highs.

Given the current technical indicators, including the bearish moving averages and low RSI values, the market sentiment remains cautious. While a bounce may occur due to oversold conditions, the overall trend suggests further downside risk before any significant recovery can take place.

In conclusion, the analysis leads to a Sell rating for PEPE at this time. The combination of negative momentum, low RSI, and substantial price decline over multiple time frames suggests that investors should exit or reduce their positions until more favorable conditions emerge.