Memecoin PEPE Sinks Nearly 5% Following Whale Activity and Market Exits

PEPE Drops Nearly 5% as Memecoin Market Sees Heavy Outflows

PEPE extended its decline on Tuesday, falling nearly 5% in the last 24 hours and contributing to a 6% slide in the CoinDesk Memecoin Index (CDMEME), as memecoins lagged behind the broader crypto market.

The token fell from $0.000012023 to $0.00001119 amid aggressive selling and a surge in trading activity. According to CoinDesk Research’s technical model, hourly volume spiked to 6.91 trillion tokens, capping price action near $0.000011692.

Further pressure came during late-session trading, with PEPE facing resistance at $0.000011549 and volume exceeding 85 trillion tokens. A brief move toward support at $0.000011525 failed to attract buyers, signaling weak demand and the risk of further downside.

While the CoinDesk 20 Index (CD20), which tracks broader crypto market performance, dipped 1.35% over the same period, memecoins posted steeper losses.

On-chain data from Nansen showed a 0.1% weekly reduction in whale-held PEPE and a 0.5% decline in exchange balances, suggesting continued selling or asset rotation among large holders.

Technical indicators remain bearish, with a consistent pattern of lower highs and mounting sell pressure—often a precursor to deeper corrections.