PEPE Slides 4% as Tariff Anxiety Fuels Risk Aversion in Meme Coin Markets
PEPE shed nearly 4% in the past 24 hours, falling from $0.00001083 to $0.00001002, as traders reacted to escalating macroeconomic uncertainty and upcoming U.S. tariff implementation.
The drop follows a broader downturn in the crypto market and was amplified by former BitMEX CEO Arthur Hayes, who liquidated his $414,000 PEPE position. Hayes cited concerns over weakening U.S. economic conditions and a sweeping tariff policy taking effect August 7, which will impose levies of up to 41% on imports from over 90 nations. He also exited several altcoin positions, rotating into stablecoins.
PEPE’s decline came after a failed attempt to reclaim resistance at $0.00001080. Volume spiked during the move lower, with 3.26 trillion tokens traded — a sign of capitulation from short-term holders, based on CoinDesk Research’s technical analysis.
Despite a brief rebound near session-end and declining volume that may hint at seller exhaustion, sentiment remains bearish. PEPE is now 32% off its mid-July high, tracking the broader retracement in the memecoin sector.
The CoinDesk Memecoin Index (CDMEME) has fallen 22.4% over the same period, as speculative appetite wanes amid growing macro headwinds.
