The Gunners suffered a 2-1 defeat to Lyon at the Emirates stadium today.
Aubameyang gave the north London side the lead before Moussa Dembele’s brace gave the French side a win.
But the Gabon international could be joined by Pepe.
The Frenchman, who has scored 37 goals over two seasons at Lille, has reportedly agreed a £72m deal to join the club.
And footage has now emerged of Aubameyang which fans believe is a big hint of the transfer.
In the clip, the Gunners are goalless against Lyon after 35 minutes.
The visitors try to play the ball out from the back.
But midfielder Matteo Guendouzi intercepts a pass on the left wing.
After a series of passes, Henrikh Mkhitaryan puts a cross into the penalty box.
Aubameyang, despite being under pressure from a defender, hooks his foot round the ball.
And his volley bounces into the bottom-left corner.
While the crowds cheered, the forward celebrated by putting his left hand to his ear.
This footage was shared on Twitter earlier today, where it has been viewed more than 40,000 times.
And the Gunners faithful spotted a similarity to their latest transfer target.
“That’s Pepe’s celebration,” one supporter said.
The forward regularly used the same celebration in France when scoring for Lille.
“Please tell me I wasn’t the only one who clocked the celebration. Pepe is coming home”
Another commented: “Please tell me I wasn’t the only one who clocked the celebration.
“Pepe is coming home.”
While a third added: “Auba with the Pepe celebration?”
But other fans had an explanation.
“Not really. It’s a Lyon – Saint Etienne rivalry celebration,” a fourth said.
Aubameyang spent two years at Saint Etienne, playing the Rhone-Alpes derby.
A fifth wrote: “That’s to the Lyon fans.”
But fans were left panicking about Alexandre Lacazette as he came off after 12 minutes.