PEPE is positioned around $0.054, with a 7-day fall of 18.2%, but it has been holding onto the bottom line of $0.053979. The 24-hour fluctuation is very small ($0.053979-$0.054295), indicating that the market is suppressing volatility.

Key indicators show that the RSI is at 38, which is in the oversold range, and the MACD is also fluctuating near the midline. What does this situation mean? The short-term market is locked in a narrow range, and a breakout seems to require stronger emotional momentum.

From the chart, PEPE has been repeatedly testing this level throughout November. The support below is solid, but the upward breakout strength is insufficient. If it falls below $0.053979, it may quickly drop to the next support; conversely, breaking through $0.054295 would provide an opportunity to open up upward space.

The current question is—Is this just a short-term consolidation or a long-term weak performance? Monitoring on-chain capital flows and the movements of large holders may provide an answer.