PEPE Declines 4% Amid Cooling Memecoin Trading Activity
Pepe (PEPE) has declined by approximately 4% in the last 24 hours as trading activity in the memecoin sector decreased. The broader memecoin market, tracked by the CoinDesk Memecoin Index, fell by 3%, underperforming the overall market, which saw a 0.1% loss according to the CoinDesk 20 index.
- Top 100 PEPE addresses on Ethereum increased holdings by 1.5% over the last 30 days.
- PEPE on exchanges decreased by 0.5% during the same period.
Technical Analysis Overview
PEPE traded within a $0.0000081 range, with a peak at $0.0000126621. Selling pressure hindered breakout attempts above $0.000012, and key support was tested around $0.0000118094. Currently, PEPE is consolidating between $0.00001181 and $0.00001198.
- The closing price was $0.0000118, above support but facing selling pressure.
- A sustained rally requires reclaiming the $0.000012 resistance zone.
- Volume patterns indicate reduced buyer strength compared to earlier in the week.