Traders Dump PEPE on Tariff Concerns, Token Falls 32% From Monthly High

PEPE Falls 4% as Traders React to Macro Concerns and Hayes’ Exit

PEPE declined nearly 4% over the past 24 hours, sliding from $0.00001083 to $0.00001002, as market-wide risk aversion deepened amid rising concerns over U.S. trade policy and economic headwinds.

The memecoin’s sell-off intensified following former BitMEX CEO Arthur Hayes’ decision to exit his $414,000 PEPE position. Hayes cited macroeconomic instability, including looming U.S. tariffs set to take effect August 7, which will impose duties of up to 41% on imports from more than 90 countries. He also exited other altcoin positions, reallocating into stablecoins.

The policy shift has rattled speculative segments of the crypto market, and PEPE has not been spared. A total of 3.26 trillion tokens exchanged hands during the drawdown, signaling possible trader capitulation, according to CoinDesk Research’s data.

The token briefly tested resistance near $0.00001080 earlier in the week but failed to maintain gains. Heavy selling pressure in the final trading hour pushed prices to session lows, where PEPE remains rangebound.

Although there was a slight recovery in the final minutes of trading and a drop in volume that may suggest declining sell pressure, overall sentiment remains fragile. PEPE is now down 32% from its July peak, in line with the broader pullback across the meme coin sector.

The CoinDesk Memecoin Index (CDMEME) has declined 22.4% over the same period.