$PEPE has been one of the most reactive memecoins in the market—when liquidity is strong, it can trend hard; when momentum fades, pullbacks can be sharp. In the latest market update, PEPE dropped ~3.3% over 24 hours while still holding a strong ~30-day gain (~34.6%), signaling a typical cool-off after a rally rather than a confirmed trend reversal.
1) What’s moving PEPE right now? Whale activity
The biggest near-term driver highlighted is whale profit-taking. The report notes that large holders distributed ~2.8 trillion PEPE since late December, with some deposits heading to exchanges (including Binance), which often increases sell-pressure in the short term.
At the same time, 24h volume was reported down ~23% to ~$465M, suggesting weaker immediate demand to absorb big sells—this is often where price becomes “choppy” around key levels.
2) The key technical levels traders are watching
If you’re tracking PEPE like a trader, the current structure is all about whether price can reclaim resistance or holds support:
PEPE faced a rejection at $0.0000072 (noted as a key resistance level). The 7-day SMA near $0.00000653 is also highlighted as a dynamic resistance area. If PEPE can close back above that zone and hold it, short-term sentiment can improve quickly.
On the downside, the level to monitor is the 30-day EMA around ~$0.00000475 losing it could open the door to a deeper correction.
3) Bigger picture: memecoin momentum is sensitive
The same update points to broader market softness and weaker altcoin momentum, which matters because memecoins tend to perform best when the market is in risk-on mode. If BTC dominance rises or liquidity rotates out of alts, PEPE can lag even without “bad news.”
Practical takeaway
PEPE still looks like it’s in a broader “uptrend cooling phase,” but the short-term direction depends on two things:
- whether whales continue distributing, and
- whether price holds key support while attempting to reclaim the resistance zone.
