PEPE fell around 2% in the last 24-hour period as part of a broader 5% sell-off that started amid a crypto market slowdown and a wave of high-volume selling.
The price slid from $0.000014268 to $0.000013568 during the session, with 349 billion tokens offloaded during the move, according to CoinDesk Research’s technical analysis data model.
The meme-inspired cryptocurrency briefly rallied to a session high of $0.000014713, supported by 11.7 trillion tokens traded in a single surge. But the attempt fizzled, encountering stiff resistance and triggering a swift reversal. The sharp move led to more than $4 million in liquidations, per CoinGlass data.
That session high now stands as a firm technical ceiling, reinforcing trader doubts about near-term upside. Relative post volume on social media is up more than 23% compared to its 24-hour average, according to data from TheTie, suggesting growing interest.
Support came in near $0.000013618, where buyers showed interest during earlier dips. While the token briefly moved below that level, it has since recovered to surpass it.
Meanwhile, Nansen data shows that even as the top 100 addresses holding PEPE on Ethereum have increased their holdings by 0.11%, exchange wallets added 0.24% in the last 24 hours, showing a growing supply on the market.
Despite the drop, PEPE is slightly outperforming the wider memecoin space. The CoinDesk Memecoin Index (CDMEME) saw a 2.4% drop in the last 24 hours, compared to PEPE’s near 2% drop. Over the past month, PEPE is up nearly 55% compared to CDMEME’s 41.7% rise.
The frog-themed token has been outperforming after forming a golden cross pattern earlier this month. Crypto analyst Lark Davis on social media flagged a potential breakout target at $0.0000155.
Technical Analysis Overview
- Trading volume spiked to 11.72 trillion tokens during a breakout attempt, signaling widespread market participation.
- Strong rejection at $0.000014713 now serves as a critical ceiling for further upside.
- Consistent buyer activity formed a key support near $0.000013618
- A sharp deterioration began with 230.19 billion tokens sold in a concentrated period.
- Massive offloading occurred in successive waves of 237.67 billion, 329.19 billion, and finally 349.11 billion tokens. Activity dwindled to near-zero then, signaling trader fatigue and lack of conviction for recovery.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
