PEPE Price Drops 5% as Meme Coin Momentum Wanes and Bitcoin Dominance Rises

Pepe


What to Know

  • PEPE has declined nearly 5% in the past 24 hours and is currently trading below $0.00000950, continuing a multi-day downtrend.
  • Resistance has formed near $0.00001013, while key support holds at $0.00000946.
  • Bitcoin dominance has climbed above 65%, marking a shift in investor preference toward large-cap assets.
  • Meme coin sentiment is weakening as capital rotates out of high-risk tokens like PEPE into Bitcoin and other top-tier cryptocurrencies.
  • Technical indicators suggest continued bearish momentum unless PEPE breaks above resistance or market sentiment shifts favorably.

PEPE Faces Continued Downtrend as Hype Cools

The popular meme coin PEPE has dropped nearly 5% over the past 24 hours, continuing a broader multi-day slide. Once a high-flying favorite among retail investors, the token is now under significant pressure as market sentiment rotates away from speculative assets and into more stable cryptocurrencies like Bitcoin.

As of today, PEPE is trading around $0.00000949, according to data aggregated from market analytics platforms. The decline marks a sharp contrast to the token’s previous uptrend, which had been fueled by social media buzz and a viral community following.

Resistance at $0.00001013 Halts Rebound Attempts

Over the past 24 hours, PEPE attempted multiple price recoveries but failed to break above the newly formed resistance at $0.00001013. The resistance zone, built during strong selling periods, has proven difficult to overcome, with each rally attempt being met by profit-taking and renewed downward pressure.

Technical analysis shows that support has formed around the $0.00000946 level, where the price has bounced several times. Still, the coin remains in a bearish structure and is at risk of further downside unless momentum shifts significantly.

Bitcoin Dominance Surges Over 65%

One of the major factors contributing to PEPE’s downturn is the rising dominance of Bitcoin (BTC) in the overall crypto market. Bitcoin dominance, which refers to BTC’s market cap as a percentage of the total cryptocurrency market cap, has climbed past 65% for the first time in over two years.

This shift indicates a strong market preference for large-cap assets like Bitcoin during uncertain times, while riskier altcoins and meme tokens suffer from capital outflows. As traders and institutions move their funds toward assets perceived as safer, tokens like PEPE are struggling to maintain traction.

Fading Retail Interest and Social Media Buzz

While PEPE gained massive attention earlier this year, including a brief surge after a social media moment involving Elon Musk in April, the coin has struggled to maintain retail interest. The initial surge in buying volume has dwindled, and with no new major developments or catalysts, the hype surrounding PEPE appears to be fading.

As enthusiasm wanes, the coin is increasingly vulnerable to selloffs, particularly in a risk-off market environment. Without renewed investor attention or a broader altcoin rally, PEPE may continue to lag behind its meme coin peers.

Technical Analysis Overview

PEPE traded within a wide 16.1% range from $0.00001017 to $0.00000940 between June 25 and June 26. Volume surged during early trading hours, with a notable 91.9 trillion unit spike recorded around 07:17 UTC on June 26. This was followed by a short-lived 3.1% rally, but the coin quickly retraced, losing 0.9% before the end of the session.

The price is currently consolidating between $0.00000950 and $0.00000955. The $0.00000946 support level continues to hold for now, but any further weakness in the broader market could test lower price floors, potentially around $0.00000920 or even $0.00000890 in a bearish continuation.

Broader Market Sentiment Not Favoring Meme Coins

The overall crypto market sentiment has shifted, with traders preferring the relative safety of large-cap tokens. While meme coins like PEPE and DOGE tend to perform well in euphoric market conditions, they often underperform when caution dominates.

Bitcoin’s recent recovery and growing dominance have further pulled liquidity away from smaller coins. As institutional flows pour into BTC and select altcoins with stronger fundamentals, meme coins without solid development or utility are likely to see continued downside.

Can PEPE Regain Momentum?

For PEPE to regain its previous momentum, several factors would need to align:

  • A renewed surge in retail interest, potentially sparked by social media or celebrity attention
  • A breakout above $0.00001013, confirming bullish intent and invalidating the current bearish structure
  • A reversal in Bitcoin dominance or a broader altcoin rally that lifts speculative assets

Until then, traders and investors may remain cautious around PEPE, viewing it more as a short-term speculative play rather than a long-term hold.

Watch Support Levels and Market Trends Closely

PEPE’s recent decline highlights the volatility and risk associated with meme coins, especially during uncertain market conditions. As Bitcoin dominance rises and speculative appetite decreases, PEPE and similar tokens may continue to struggle unless a significant shift in market sentiment occurs.

Traders should closely monitor key technical levels and volume trends, as well as shifts in broader market dynamics. A decisive move above resistance could trigger a bullish reversal, but until then, caution remains warranted.

Comments (0)

Loading...

Top Exchanges


  • 1
    Crypto Com LogoStart Trading

    Trading cryptocurrencies involves significant risk and users should carefully consider their investment objectives and risk tolerance.

  • 2
    Binance Logo 3Start Trading

    Cryptocurrency trading carries a high level of risk and users should carefully evaluate their financial situation and risk tolerance before participating.

  • 3
    Coinbase LoigoStart Trading

    Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

  • 4
    Kraken LogoStart Trading

    Trading cryptocurrencies involves high risk and users should thoroughly evaluate their financial circumstances and risk tolerance.

  • 5
    Gemini LogoStart Trading

    Cryptocurrency trading involves substantial risk and users should carefully assess their investment goals and risk tolerance before participating.

  • 6
    Bitstamp LogoStart Trading

    Trading cryptocurrencies carries inherent risks and users should carefully consider their investment objectives and risk tolerance.

  • 7
    KuCoin LogoStart Trading

    Cryptocurrency trading involves significant risk and users should evaluate their financial situation and risk tolerance before participating.

  • 8
    Uphold LogoStart Trading

    Trading cryptocurrencies carries inherent risks and users should carefully assess their investment objectives and risk tolerance before engaging.