PEPE Traders: Brace for a Memequake-Will Your Wallet Gasp?

Picture this: the memecoin universe has willingly lost nearly half of its glittering market cap in the last 12 months, and if you were watching the calendar, you’d also notice a 6.9% slide last month. CoinMarketCap tells us the numbers; Glassnode whispers that the “fun” has only grown by a modest 2.2% in the past week-so clearly, the dry humor in crypto is still in demand.

Pepe, our favorite rabbit, has been the villain in this little tragedy-his charts are as bearish as my last attempt at a diet, and the local low of $0.00000336 has been slapped on a red sticky note less than a hot cup of coffee’s worth.

Open interest is shrinking faster than my willpower during a sales week. Speculators are all “no thanks” to any hope of a bounce, especially now that Bitcoin has decided to drop below $70k. The crystal ball says PEPE might get a little slimmer before the holiday season.

A short squeeze can materialize in the coming weeks

Just like Bitcoin, PEPE is stacked with short liquidation levels as high as a skyscraper of bad jokes. The 90‑day liquidation map shows you could watch a great deal of short positions get whipped over, while the long side barely knows how to toast bread.

In plain terms: a rock‑solid price move up could shatter a bunch of shorts, but an equal move down ties the fleas around the long pets. It’s basically the opposite of a “rally in the bread basket” scenario, which only truly delights counter‑trend traders-if they’re not in a panic.

Bitcoin appears to be flirting with a drop to $65.3k. Will it grip the $63k‑$65k band like a clingy ex, or will it dive half‑a‑thousand below only to crash the party? Either way, PEPE’s fate is bound to the same carnival ride.

Traders’ call to action – Wait

At press time, PEPE is lurking just shy of the long‑term support level at $0.00000342. The trend is “down, down, and maybe a little sideways if you’re feeling adventurous.” It could plummet to the $0.00000303 extension or bounce up to the $0.00000379 highs-like a cat deciding whether to chase a mouse or nap on the sunny spot.

The answer is as clear as a river in fog. PEPE will copy Bitcoin like a badly synced duet. As of now, BTC seems primed for a weekend downslide.

Swing traders, note the magnetic zones above $0.0000038-that’s a valid target. Memecoins love to surge fast and then retrace; just like the mid‑February rally to $0.000005 that made everyone think they were done, only to realize they weren’t.

Final Summary

PEPE traders should expect more losses since Bitcoin’s overall bias is still “don’t touch that”.
Traders should remember that memecoins can still blast up like fireworks on New Year’s eve, even during market stress.

2026-03-07 21:11

A short squeeze can materialize in the coming weeks

Traders’ call to action – Wait

Final Summary

Read More