PEPE’s Rocky Ride: 32% Drop From July Highs Amid Market Turbulence
The meme cryptocurrency PEPE has experienced a significant downturn, shedding nearly 32% of its value since its peak in July 2025. Over the past 24 hours alone, PEPE dropped by 4%, as broader market weakness led investors to retreat from speculative assets. A staggering 3.26 trillion PEPE tokens were traded during this selloff, highlighting the intense volatility. Former BitMEX CEO Arthur Hayes contributed to the downward pressure by liquidating his $414,000 PEPE position, alongside other altcoins, citing concerns over impending U.S. tariff policies as a macroeconomic risk. These new import levies, which could reach substantial rates, have added to the market's jitters, further dampening sentiment around high-risk cryptocurrencies like PEPE. Despite its playful origins, PEPE's recent performance underscores the challenges meme coins face in sustaining momentum during periods of macroeconomic uncertainty. Investors are now closely watching whether PEPE can stabilize or if further declines are on the horizon as external pressures persist.
PEPE Plummets 32% From July Peak Amid Macroeconomic Jitters
Meme cryptocurrency Pepe tumbled nearly 4% in 24 hours as broader market weakness triggered a flight from speculative assets. The token has now erased 32% of its value since July's peak, with 3.26 trillion PEPE changing hands during the selloff.
Former BitMEX CEO Arthur Hayes liquidated his $414,000 PEPE position alongside other altcoins, citing looming U.S. tariff policies as a macroeconomic threat. New import levies of up to 41% on goods from 90 countries take effect August 7, creating Ripple effects across risk assets.
PEPE's price collapsed from $0.00001083 to $0.00001002 before finding tentative support. The volume spike suggests trader capitulation, though reduced late-session selling pressure may indicate exhaustion. The memecoin briefly tested resistance at $0.00001080 before bears overwhelmed the market.
Pepe Consolidates at Key Support Level Amid Bullish Reversal Signals
Pepe (PEPE) is testing a dynamic support zone that has historically catalyzed strong rallies, with traders watching for confirmation of upward momentum. The meme coin's price action shows consolidation at this critical level after a rejection from the value area high, which stalled its recent advance.
Market structure remains bullish provided support holds, but continuation requires two key factors: a reclaim of the point of control and sustained above-average buying volume. The PEPE/USDT chart on TradingView reveals this inflection point could determine whether the asset retests previous swing highs or faces deeper correction.
Technical analysts note the precision of recent price movements—the value area high rejection occurred exactly at resistance, while the current support zone has triggered multiple rebounds since May. This creates a clear framework for traders: hold above support for bullish setups, break below for potential trend reversal.
PEPE Coin Eyes 40% Rally Amid Conflicting Market Signals
PEPE coin's price action paints a contradictory picture, with a 5% daily gain juxtaposed against a 9% weekly decline. The meme coin's 42% annual surge underscores its volatile nature, leaving traders questioning whether current movements signal an impending breakout or a speculative pump-and-dump scenario.
On-chain metrics reveal a potentially bullish trend: exchange reserves have dropped 2.73% this week, with 7 trillion PEPE tokens exiting centralized platforms like Binance and OKX. This migration to self-custody wallets typically reduces immediate sell pressure, creating conditions for potential price appreciation.
The On-Balance Volume indicator suggests a base formation may be underway, though bearish sentiment persists. Market participants remain divided on whether PEPE's exchange outflows represent genuine accumulation or merely a temporary redistribution of tokens.
