I just saw PEPE drop again significantly, but trading volume actually increased substantially. It's strange because usually when the price falls, the volume also tends to be quiet. But this time, trading volume reached hundreds of millions in a day, showing strong participation even though the price is weakening.

Based on the latest data, PEPE is holding at the support area of $0.053796 while resistance is at $0.05438. So basically, this token is stuck in a fairly tight range. Its market cap is still around $1.57-1.63 billion, which means the valuation remains solid even though the price action is currently down. This is often called a drop cap or price drop while the market cap stays stable, indicating a possible accumulation phase.

What’s interesting is the divergence between price and volume. When buyers are actively trading despite the price dropping, it could be an indication that the support level is being tested. If a breakout from this range occurs, the direction will be determined by whether the price can break above the resistance or below the support. For now, PEPE is still in a wait-and-see mode within this narrow corridor.