PEPE Plunges 4%—Memecoins Trail Behind Crypto Market Rally

Memecoins get left in the dust as PEPE leads the sector's slump.

While Bitcoin and Ethereum notch steady gains, the meme brigade stumbles—PEPE's 4% drop highlights the speculative fragility of 'funny money' assets. Traders pivot to blue-chip crypto as the joke wears thin.

Another day, another reminder that dog-themed tokens won't replace your 401(k).

Technical Analysis Overview

PEPE traded in a $0.0000081 range over the past 24 hours, marking a 7% spread between the high and low, according to CoinDesk Research's technical analysis data model.

The peak came at $0.0000126621, but repeated breakout attempts above $0.000012 met selling pressure. Critical intraday support was tested around $0.0000118094. The token then moved into a tight consolidation channel between $0.00001181 and $0.00001198, signaling indecision among traders.

The day ended with Pepe settling at $0.0000118, slightly above support but under clear distribution pressure from sellers. Unless its price can reclaim and hold above the $0.000012 resistance zone, momentum may favor a retest of lower support levels.

Volume patterns during the session suggest waning buyer strength compared to earlier in the week, which could limit the chances of a sustained upside breakout without renewed market catalysts.