Pepe (PEPE) has experienced a significant decline, dropping nearly 41% as it tests a crucial weekly support range between $0.00000389 and $0.0000042. This decline follows a confirmed breakdown, reflecting a head and shoulders bearish reversal pattern. The breakdown below the $0.0000059 neckline has triggered further declines. Market analysts suggest that a potential retest of the $0.0000059 level could offer a 48% upside. However, if PEPE closes below the $0.00000389 support, it may indicate continued bearish momentum, posing further challenges for the cryptocurrency.