Meme-inspired cryptocurrency PEPE fell nearly 2% over the past 24 hours to close at $0.000007199 as it lagged the broader cryptocurrency market and the memecoin sector as a whole.
The broader crypto market as measured by the CoinDesk 20 (CD20) index rose 0.5% over the last 24-hour period, while the memecoin sector, based on the CoinDesk Memecoin Index (CDMEME), declined 1.91%.
Despite the decline, trading activity remained mostly within normal limits, with volume only 7.55% above the weekly average, an indication that the decline may reflect routine profit-taking rather than a broader change in sentiment, according to CoinDesk Research’s technical analysis data model.
For most of the session, PEPE posted lower levels, reinforcing the bearish stance. The price traded within a tight range of 3.5%, lacking the kind of volatility that typically gives rise to sharp breakouts or breakdowns. Still, the surge in volume at day’s end offered a counterpoint.
Trading increased to 4.53 trillion tokens, more than double the 24-hour moving average. The rally coincided with a brief rally to $0.000007421, a level that now marks the potential range for near-term price action.
PEPE fell to an intraday low of $0.000007184, then reversed slightly in a flurry of activity. Shortly after, the token had bounced above short-term resistance at $0.000007210, suggesting buyers may have stepped in at lower levels.
For traders, the main takeaway is the mixed technical picture. The coin remains in a downtrend, but is showing signs of life which could point to a broader correction if buying pressure continues.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance Our standards. For more information see CoinDesk’s full AI policy.