Thoughts on PYUSD's recent stability and what might break it

I've been keeping an eye on $PYUSD lately, particularly its recent move back towards the 0.9997-0.9991 range after that dip earlier in the week. It feels like it's trying to carve out a base, but I'm curious if anyone else sees something similar or if I'm overthinking it. The current stability is interesting, almost like it's consolidating before a potential move, but the risk, as always with these stablecoins, is a significant volume outflow or a wider market panic that could see it lose its peg more dramatically. If we start seeing consistent closes below 0.9990, especially on higher volume, that would certainly invalidate the idea of this as a stable consolidation and point to further downside risk. What are your thoughts on where $PYUSD might be heading from here?