• PEPE fell nearly 12% as Bitcoin’s drop under $95K triggered more than $1B in liquidations.
• The memecoin lost its critical $0.00000520 support, accelerating downside momentum.
• Technical indicators show weakening demand with no confirmed bottom, raising the risk of deeper losses.
PEPE’s price dropped 11.8% over the past 24 hours, falling to $0.00000517 as a wave of market-wide selloffs hit altcoins. Bitcoin’s sharp decline toward the mid-$94,000 range sparked more than $1 billion in liquidations, driving traders out of high-beta tokens like PEPE. As BTC broke below $95K, liquidity across memecoins thinned rapidly, amplifying losses and triggering volatility spikes.
The selloff was accompanied by a significant increase in trading activity. PEPE’s 24-hour volume surged more than 80% to $548 million, showing that capitulation pressure, rather than accumulation, is dominating the current session. With sentiment flipping bearish, even short-term recovery attempts failed to hold traction.
Explaining the Current Chart
The TradingView chart shows a clear downward trend from the previous evening into the European session, with each bounce forming a lower high, a classic sign of weakening demand. The temporary recovery seen around 21:00 UTC was quickly rejected as sellers stepped back in, pushing PEPE to the intraday low before stabilizing slightly above $0.00000516.
PEPE’s RSI currently sits around 46.9, showing neutral-to-weak momentum. While not oversold, the indicator leans heavily toward bearish territory, suggesting that buyers are hesitant to step in. The MACD reflects the same tension: both the MACD line and signal line remain near the zero mark after crossing lower earlier, and momentum bars remain mixed, indicating an unresolved trend with a downward bias.
The volume profile confirms this pressure. Multiple sell-heavy candles dominate the chart, especially during Bitcoin’s steepest declines, aligning PEPE’s trajectory with broader market forces rather than project-specific catalysts.
Technical Breakdown Raises the Risk of Further Losses
PEPE’s most significant technical development is the confirmed breakdown of $0.00000520, a key support level that held through earlier corrections. Once this level failed, sell orders accelerated sharply, driving the price to its current range.
If bearish momentum continues, the next major support sits around $0.00000490, followed by a deeper zone near $0.00000460, where traders last showed interest during October’s market turbulence. A failure to reclaim $0.00000520 soon could lock PEPE into a short-term downtrend, increasing the likelihood of these lower targets being tested.
On the upside, bulls need to push PEPE back above $0.00000540 to regain momentum. Without a strong reversal pattern or renewed risk appetite in the broader market, sustained recovery remains uncertain.
Outlook: Can PEPE Stabilize?
Memecoins tend to move aggressively when Bitcoin enters deeper correction phases, and PEPE is showing that sensitivity now. Until BTC finds stability above key support levels, PEPE’s price will likely remain under pressure. Technical indicators show weakness but not capitulation, suggesting that volatility may continue before a clear direction forms.
In the short term, traders will watch whether PEPE can reclaim $0.00000520, a reclaim could signal stabilization, while continued rejection increases the risk of sliding toward the $0.00000460 region.
