PEPE Tumbles 7% on High Trading Volumes as Meme Market Sees Wider Correction

PEPE Drops 7% as Meme Market Faces Broad Pullback Amid High Trading Volumes

Meme coin PEPE fell 7% over the past 24 hours, with trading volumes soaring past 2.29 trillion tokens, according to CoinDesk Research’s technical analysis.

The token slipped from $0.00000995 to $0.00000931, briefly finding support near $0.0000093. Despite a short stabilization, the broader trend remained bearish after PEPE peaked at $0.00001014 earlier in the session. Elevated volumes indicate that the decline was driven by active trading rather than low-liquidity noise.

The broader memecoin sector also saw a pullback, with the CoinDesk Memecoin Index (CDMEME) down around 4.3%. Meanwhile, the CoinDesk 20 (CD20) index fell 3.35% over the same period.

Analysts attribute the correction to profit-taking by whales and risk-averse behavior amid rising political uncertainty, including concerns over Japan’s fiscal policy. Insider control remains a point of focus, as blockchain analytics firm Bubblemaps highlighted YEPE—a PEPE-inspired token—for having 60% of its supply concentrated in insiders’ hands.

Data from Nansen shows the 100 largest PEPE addresses on Ethereum increased their holdings by 0.26% over the last week, while exchange balances rose 0.35%, suggesting selective accumulation amid the pullback.