$PEPE had a bearish day yesterday, but it wasn’t due to any specific bad news about the token. The entire market saw a decline, and PEPE is currently consolidating between 12,900 and 11,200. The real support level for PEPE lies between 11,000 and 10,500, which is a historically strong zone. The 618 FIP is a key support level, along with the 200 EMA on the 12-hour chart and the 100 EMA on the daily chart. There are indications of a potential bottom forming, including significant long liquidations. However, I’m not fully convinced that the support is strong enough to drive an 18% move to the top of the range. I’m waiting to see PEPE break above 11,000 and Bitcoin surpass 65,000 before considering a buy. While PEPE appears stable for now, it may not hold if Bitcoin drops again. I’ll keep you updated on any market changes and potential breakouts.