PEPE Cryptocurrency Drops 32% Amid U.S. Tariff Concerns
PEPE Cryptocurrency Performance
- PEPE lost nearly 4% in value within 24 hours amid a market sell-off.
- Former BitMEX CEO Arthur Hayes sold his $414,000 position in PEPE due to macroeconomic risks linked to U.S. tariffs.
- New tariff policy effective August 7 could impose levies of up to 41% on imports from over 90 countries.
- PEPE's price decreased from $0.00001083 to $0.00001002, with 3.26 trillion tokens traded during the downturn.
- The token experienced selling pressure after testing resistance around $0.00001080.
- PEPE is down 32% from its mid-July peak; the broader memecoin sector, as per the CoinDesk Memecoin Index, dropped 22.4% during the same period.