Peter Smith
Pepe crashed over 10% in 24 hours as the frog-themed meme coin gave back recent gains. The token that had recently shed one zero is now adding it back amid heavy selling pressure.
PEPE Price Gets Hit Hard
PEPE took a beating yesterday, dropping around 10% as sellers hammered the meme coin. According to CoinMarketCap, PEPE was trading at $0.000009658 at press time - down 8.58% from where it started the day. This means the token basically added another zero back to its price, which is pretty painful for anyone who bought the recent highs.
Just a couple days ago, PEPE was looking strong and actually hit $0.00001033 before things went south. But then profit-takers stepped in and the whole thing unraveled fast. That's meme coins for you - they can pump hard and dump even harder.
PEPE Volume Tells the Story
The price drop wasn't the only bad news. Trading volume also got crushed, falling 47.41% to $751.56 million in the same period. When volume drops like that alongside price, it usually means buyers are backing away and there's not much support underneath.
This volume collapse basically killed any hopes that PEPE could bounce back to those May levels when it hit $0.00001380 about two months ago. Back then, the mood was totally different and everyone was bullish on meme coins.
What's Next for PEPE?
Right now, Bitcoin is sucking up all the attention with its dominance at 64.6%. When Bitcoin runs, money tends to flow out of riskier plays like meme coins. That's probably why we're seeing so much profit-taking across the board.
Since May, PEPE has been struggling to hold above $0.000010, and it's now down about 60% from its all-time high of $0.00002825 that it hit back in December 2024. That makes it one of the worst performers lately.
The only thing that might save PEPE is if the big holders - the whales - stop dumping their bags on exchanges. If they start buying instead of selling, we could see a turnaround. But right now, the selling pressure is pretty intense and it's hard to see where the buying interest is going to come from.
Peter Smith
