PEPE Tests Critical Support After Website Hack Triggers 23% Weekly Plunge
Market Pulse
- PEPE shed 23% this week as security breach rattled investor confidence
- RSI plunged to 43 from neutral territory, signaling momentum shift
- Support at $0.0000044 faces sixth test since consolidation began
PEPE’s devastating 23% weekly drop landed the memecoin at $0.0000044, erasing nearly two months of gains after hackers compromised the project’s website and redirected users to wallet drainers. The security breach compounded broader memecoin sector weakness following the Fed’s latest rate cut, with PEPE now trading 63% below its monthly high of $0.0000055. The main question for traders is: can the $0.0000044 support level hold after being tested repeatedly, or will the combination of security concerns and sector-wide selling pressure finally crack this defensive line?
| Metric | Value |
|---|---|
| Asset | PEPE (PEPE) |
| Current Price | $0.00 |
| Weekly Performance | 0.27% |
| Monthly Performance | -22.92% |
| RSI (Relative Strength Index) | 42.9 |
| ADX (Average Directional Index) | 29.7 |
| MACD (MACD Level) | 0.00 |
| CCI (Commodity Channel Index, 20-period) | -90.86 |
Momentum Exhaustion Signals Capitulation Phase – RSI Drops to 43
Reading the oscillator at 43.96, traders see momentum has shifted decisively bearish after the website hack news broke, though PEPE hasn’t yet reached oversold territory that typically marks major bottoms. The sharp decline from neutral readings above 50 just days ago reflects how quickly sentiment flipped negative when security vulnerabilities emerged.
What’s revealing is how RSI behaved during similar security-related selloffs in the memecoin space – typically bouncing from the 35-40 zone rather than the traditional 30 oversold threshold. So for swing traders, this current 43 reading suggests we’re approaching potential bounce territory, but the lack of extreme oversold conditions means sellers might still have ammunition for another leg down if support fails.
ADX at 29.7 Confirms Sellers Control the Trend
At the level of 29.7, the ADX entry indicates that the trend is gaining power and directional conviction has returned to PEPE’s price action after weeks of choppy consolidation. Basically, being in this zone above 25 means the security breach acted as the catalyst to break the market out of its previous range-bound state – unfortunately for bulls, that breakout came to the downside.
Since ADX climbed from the mid-20s alongside the price breakdown, the indicator confirms genuine selling pressure rather than just temporary profit-taking. To clarify, the ADX is indicating that we are switching from boundary conditions to a trending state where momentum strategies become more effective than mean reversion plays. Therefore, day traders should suit their strategies to this change by following the trend rather than trying to catch falling knives until ADX drops back below 25.
20-Day EMA Flips to Resistance as Price Trapped Below Entire Average Stack
Price action is very clear through the EMA ribbons. PEPE is positioned below all major moving averages, with the 10-day ($0.0000045), 20-day ($0.0000046), and 50-day ($0.0000048) EMAs now acting as resistance levels after the security-driven breakdown. The 20-day EMA particularly stands out, having rejected recovery attempts twice since the hack news surfaced.
Looking at the broader average structure, the 100-day EMA sits far above at $0.0000054, representing a 23% rally target that seems ambitious given current security concerns. That former support area at the 20-day EMA now transforms into a red line for sellers to defend, and any sustained move above $0.0000046 would signal the immediate security-related panic has subsided.
Support Crumbles at $0.0000044 While Resistance Stacks Above
The immediate resistance is set at the zone from $0.0000045 to $0.0000047 where the 10-day and 20-day EMAs converge with the weekly pivot point. This cluster rejected PEPE’s recovery attempt just hours after the website compromise was discovered, confirming sellers’ control of these levels.
Bulls defend multiple support layers below current price, though each looks increasingly fragile after the security breach. The $0.0000044 level has provided bounces six times over the past month, but this week’s hack-driven volume suggests this floor might finally give way. Below that, the monthly S1 pivot at $0.0000034 offers the next major support, though that represents another 23% drop from current levels.
This configuration resembles a descending triangle with support under siege and resistance levels rejecting each recovery attempt. The security incident essentially accelerated what was already a weakening technical structure, and now traders watch whether $0.0000044 can withstand one more test or if the hack news provides the final push through this defensive line.
Bulls Need Security Clarity Before Attempting $0.0000046 Reclaim
Should PEPE reclaim the 20-day EMA at $0.0000046 with conviction, bulls could target the gap fill toward $0.0000050, especially if the project addresses security concerns with concrete remediation steps. It is worth mentioning that improved liquidity conditions noted before the hack could still provide underlying support once the immediate security panic subsides.
The bearish domino falls in the event that the price hard rejects at current levels and breaks below $0.0000044 on volume – this would likely flush positions down to the $0.0000034 monthly pivot as stop-losses trigger. The combination of a compromised website and broader memecoin weakness creates a particularly vulnerable setup where technical support might not hold without fundamental confidence restoration.
Given the technical configuration and ongoing security concerns, the most likely short-term path is for PEPE to continue testing the $0.0000044 support level while the project works to restore user confidence. Until concrete security improvements materialize, rallies toward $0.0000046-$0.0000047 resistance should face selling pressure from traders looking to exit on any bounce.
