PEPE Weakens 2.6% After Resistance Holds Firm

PEPE Slides 2.6% as Resistance Holds, Derivatives Activity Remains Strong

Meme token PEPE dropped 2.6% over the past 24 hours, settling near $0.0000915, underperforming the broader crypto market, where the CoinDesk 20 Index (CD20) fell 1.4%.

The token traded in a range of $0.0000913 to $0.0000951, with an early attempt to rally stalling near resistance before gradually sliding lower. Opening at $0.0000939, PEPE briefly peaked at $0.000095 before consistent selling pressure brought it back toward $0.000092.

Derivatives Activity Stays Elevated
Despite the decline, derivatives markets remain robust. Open interest in PEPE futures reached $560 million, while daily trading volume climbed to $1.2 billion, reflecting continued engagement from traders. PEPE outperformed the CoinDesk Memecoin Index (CDMEME), which dropped 3% over the same period.

Technical Snapshot

• Resistance: $0.000095 continues to cap rallies, with sellers emerging consistently at this level.
• Support: $0.000092 has held during intraday dips, but late-session weakness suggests potential vulnerability.
• Price Structure: Signs of a higher-low formation indicate possible bullish accumulation, though declining volume signals caution.

Traders will watch whether PEPE can hold above $0.000091 and sustain momentum. A confirmed break above $0.000095 with strong volume could shift market sentiment bullishly, while failure to defend support may lead to a deeper retracement.