Tariff Anxiety Triggers 32% Drop in PEPE Since July High

PEPE Drops 4% Amid Tariff Fears and Market-Wide Risk-Off Sentiment

PEPE fell nearly 4% over the past 24 hours, sliding from $0.00001083 to $0.00001002 as risk-off sentiment gripped crypto markets ahead of new U.S. tariff measures.

The sell-off accelerated after former BitMEX CEO Arthur Hayes offloaded his $414,000 PEPE position, citing rising macroeconomic headwinds and shifting into stablecoins. Hayes pointed to worsening U.S. economic indicators and sweeping import tariffs—set to take effect August 7—as key drivers behind his defensive move. The new policy imposes duties of up to 41% on goods from more than 90 countries.

PEPE saw a brief push toward resistance at $0.00001080 earlier in the session, but sellers overwhelmed buyers in the final trading hour. Nearly 3.26 trillion tokens changed hands, signaling potential capitulation among short-term holders, according to CoinDesk Research.

Despite a minor bounce late in the session amid falling volume, sentiment remains cautious. PEPE is now down 32% from its July highs, reflecting the broader downturn across meme tokens.

The CoinDesk Memecoin Index (CDMEME) is down 22.4% over the same timeframe, as traders reduce exposure to high-beta assets in a fragile macro environment.

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