PEPE Slips Nearly 2% as Memecoins Lag, Late Bounce Points to Buyer Support

Meme-inspired cryptocurrency PEPE fell nearly 2% over the past 24 hours to close at $0.000007199, underperforming both the broader crypto market and the wider memecoin sector.

The CoinDesk 20 Index (CD20)—a benchmark for the overall crypto market—gained 0.5%, while the CoinDesk Memecoin Index (CDMEME) dropped 1.91%, reflecting broader weakness across speculative tokens.

Despite the decline, trading volume rose only 7.55% above the weekly average, according to CoinDesk Research’s technical model—an indication that the pullback likely reflects routine profit-taking rather than a significant shift in sentiment.

Throughout most of the session, PEPE formed lower highs, confirming a bearish short-term setup. The token traded within a tight 3.5% range, suggesting muted volatility and limited momentum for a breakout in either direction.

Late in the day, however, activity spiked. Volume jumped to 4.53 trillion tokens, more than double the 24-hour moving average, coinciding with a brief rally to $0.000007421—a level that now serves as near-term resistance.

PEPE touched an intraday low of $0.000007184 before rebounding slightly above short-term resistance at $0.000007210, signaling that buyers may be stepping in at lower levels.

For traders, the technical setup remains mixed: while the token continues to trend lower, late-session buying interest could hint at a potential base forming if support levels hold.