PEPE Slides 2% as Memecoins Lag; Late Rebound Signals Potential Buyer Interest
Meme coin PEPE fell nearly 2% over the past 24 hours to $0.000007199, extending its underperformance against both the broader crypto market and the wider memecoin sector.
The CoinDesk 20 Index (CD20), which tracks the top digital assets, gained 0.5% during the period, while the CoinDesk Memecoin Index (CDMEME) dropped 1.91%, highlighting continued weakness among speculative tokens.
Despite the decline, trading activity remained moderate, with volumes just 7.55% above the weekly average, according to CoinDesk Research’s technical model. The data suggests that the pullback was likely routine profit-taking rather than a significant sentiment reversal.
Throughout most of Monday’s session, PEPE posted lower highs within a tight 3.5% trading range, signaling a subdued market structure. However, a late-session surge in activity—with volumes spiking to 4.53 trillion tokens, more than double the daily average—sparked a brief rally toward $0.000007421, which now stands as key short-term resistance.
After touching an intraday low of $0.000007184, the token recovered slightly, reclaiming $0.000007210 as temporary support. The late-session bounce suggests that buyers may be re-entering the market at lower levels, even as overall momentum remains muted.
While PEPE continues to trade within a short-term downtrend, the emergence of selective dip-buying could indicate early signs of stabilization—provided volumes hold in the coming sessions.
