PEPE is facing a potential downtrend as a bearish head and shoulders pattern emerges, raising concerns about its future price trajectory. The market awaits confirmation as Fibonacci levels reveal possible breakdown points below $0.00000521 on major charts, with traders divided on the direction of the memecoin’s movement. While some anticipate a 70% drop, others believe a fakeout and rebound pattern might occur. Analyst Ali (@ali_charts) notes that the token is exhibiting a clear reversal signal based on its structure, mirroring a classic technical setup. The price currently trades near $0.00000668, down about 0.87% from yesterday. A confirmed head and shoulders breakdown could send PEPE to $0.00000185 – a significant drop from current levels, according to Ali’s analysis. This bearish prediction aligns with the pattern’s projected breakdown from neckline to head height. However, confirmation is crucial before any actions.