Memecoin Market Softens as PEPE Falls 2%, Late-Session Bid Offers Glimmer of Support

PEPE Dips 2% as Memecoins Struggle; Late-Session Rebound Suggests Buyer Support

Meme token PEPE slipped nearly 2% over the past 24 hours to $0.000007199, underperforming both the broader cryptocurrency market and the wider memecoin sector.

The CoinDesk 20 Index (CD20) rose 0.5% over the same period, while the CoinDesk Memecoin Index (CDMEME) fell 1.91%, signaling continued weakness among smaller speculative tokens.

Despite the decline, trading volume increased only 7.55% above the weekly average, suggesting the move was driven more by routine profit-taking than by a shift in overall sentiment, according to CoinDesk Research’s technical model.

PEPE spent most of the session posting lower highs within a narrow 3.5% range, a sign of restrained volatility. However, a late-session volume spike—rising to 4.53 trillion tokens, more than double the daily average—briefly lifted prices to $0.000007421, now seen as a key near-term resistance level.

The token touched an intraday low of $0.000007184 before rebounding above $0.000007210, hinting at buying interest near lower levels.

While PEPE remains in a short-term downtrend, the late-day recovery indicates that buyers may be returning, potentially setting the stage for a short-term stabilization if trading activity continues to strengthen.