I was playing around making up some limits of things I thought would be interesting to check out and came to something I thought was quite simple on the surface but found it wasn't very consistent with other things in my mind.
$$\lim_{n \to \infty} p^{p^n} = 0$$
To me this seemed very obviously 0, since more and more times you multiply p by itself you really get smaller and smaller with respect to the p-adic metric. But something about the concept of exponents and "counting" just doesn't seem to make sense in the context of p-adic numbers since there is no ordering.
In talking about a similar limit for the p-adic logarithm I've heard it mentioned that the exponent would be getting smaller and smaller, so perhaps it's just as fine to interpret this as,
$$\lim_{n \to \infty} p^{p^n} = p^0 = 1$$
Which is perhaps a bit dubious at first, but if I were to expand this as the Mahler series,
$$p^x = \sum_{n=0}^\infty (p-1)^n \binom{x}{n} = 1 + (p-1)x + (p-1)^2\frac{x(x-1)}{2} + \cdots$$
Then I run into this issue of taking the limit from this definition a bit more seriously,
$$\lim_{n \to \infty} 1 + (p-1)p^{n} + (p-1)^2\frac{p^{n}(p^{n}-1)}{2} + \cdots$$
$$=1$$
However maybe I'm doing some sort of circular reasoning or even running into simply some kind of choice of convention here, I'm not quite so sure.
Your first thought was exactly correct: the limit is $0$. You are getting confused here about the domain of exponentiation: $p^n$ is only defined when $n$ is an integer, not when $n$ is a $p$-adic number. So you shouldn't be surprised if this function ends up being ill-behaved when you think of $n$ as a $p$-adic number instead. In particular, the function $n\mapsto p^n$ is not continuous as a function $\mathbb{Z}\to\mathbb{Q}_p$ when you give $\mathbb{Z}$ the $p$-adic topology, so you cannot compute the limit of $p^{p^n}$ by taking the limit of the exponent as you have done.
(You might try defining $p^x$ for $p$-adic $x$ using the $p$-adic exponential and logarithm by $p^x=\exp(x\log p)$. However, this does not work since $p$ is not in the domain of the $p$-adic logarithm.)