TL;DR

PEPEs price hovers near triangle support with weak volume and declining buyer strength. Long liquidations surged while shorts stayed low, signaling strong bearish control in recent trading. On-chain activity continues falling, with active addresses under 5,000 throughout 2025.

Price Holds at Key Support Level

PEPE was priced at $0.0000096 at the time of writing, down 1% in the past 24 hours and 6% over the last seven days. On a daily chart, the asset sits near the lower border of a Symmetrical Triangle. This region has acted as support, although recent action suggests growing pressure from the upper side of the range.

Thoughts on #PEPE:$PEPE daily is sitting right at the edge of the symmetrical triangle support, but momentum looks weak. The repeated lower highs show sellers pressing down while buyers are struggling to hold.

If this breakdown confirms, $PEPE can slide toward the 0.0000085 –… pic.twitter.com/GH2nHqp9Lw

Notably, the market has shown a pattern of lower highs, which signals ongoing selling pressure. Buyers have managed to hold the support so far, but the current structure leaves little room. According to a post by Alpha Crypto Signal,

“If this breakdown confirms, $PEPE can slide toward the 0.0000085 – 0.0000080 zone next.”

Trading Volume and Liquidation Trends

Data shows a 15% decrease in trading volume, now at $980 million. Open interest is also down by 4%, sitting at $535 million. These drops suggest fewer active positions in the market, often a sign of reduced participation before a larger move.

On the liquidation side, long positions have taken the brunt of recent moves. Long liquidations totaled over $326K, while shorts accounted for only $9,900. OKX was the exchange with the highest long liquidations at $288,300.

Source: Coingass Other platforms like HTX, CoinEx, and Gate registered smaller numbers. The imbalance points to the fact that buyers were losing on trades, whereas sellers were seemingly unaffected.

On-Chain Activity Continues to Decline

As of August 3, PEPE recorded 2,599 active addresses, continuing a broader downward trend in such activity that began in late 2024.

Daily active addresses reached a high of nearly 27,500 in November 2024 during a price rally. Since then, both the address count and price have dropped. Throughout 2025, active wallets have remained below the zone of 5,000, essentially witnessing a decline in user activity on the network.

Source: Glassnode Meanwhile, the symmetrical triangle pattern comes close to testing. The next area to watch will be around $0.0000085 and $0.0000080 if the price breaks through the support line at $0.0000095, followed by strong volume. A recovery above $0.0000115 is needed to change the current setup.

Until then, trading volume, liquidation data, and on-chain usage continue to promote a cautious outlook for the token.