PEPE Token Drops 9.12% After Rally; Over $975M Traded as Holders Lock Profits

PEPEUSDT has experienced a 9.12% price decline in the last 24 hours, with its current price at $0.00000608 according to Binance, alongside a notable 16.4% reduction in trading volume to approximately $975.3 million. The recent dip follows profit-taking after a strong rally earlier in the week that was driven by renewed bullish sentiment, technical breakouts, and accumulation by holders. Increased selling pressure appears to have emerged as the Relative Strength Index approached the overbought zone and the price tested key resistance at the 200-day EMA, prompting short-term traders to realize gains. PEPE currently ranks as the 53rd largest cryptocurrency by market capitalization at $2.57 billion, and, despite recent volatility, remains among the top-performing meme coins with over 506,000 holders and a monthly gain exceeding 50%.