PEPE once again becomes the focus of market attention. Onchain Lens reports that a trader opened a 10x leveraged long position, indicating a surge in speculative sentiment under a fragile market structure. This meme coin is currently contracting within a descending wedge, maintaining above the key demand zone of $0.0000039 to $0.0000037. Spot buying is quietly absorbing selling pressure, while open interest has increased by 7.6% to $222 million, indicating new leverage flowing into a balanced market. A drop below $0.0000037 could test $0.0000030, while a breakout near the wedge resistance at $0.0000050 could point to $0.0000063.