PEPE Drops 2.6% as Bulls Fail to Clear Key Resistance

PEPE Drops 2.6% as Resistance Holds, Derivatives Activity Stays Elevated

Meme-based cryptocurrency PEPE slipped 2.6% over the past 24 hours to trade near $0.0000915, underperforming the broader crypto market, where the CoinDesk 20 (CD20) index fell 1.4%.

The token moved within a $0.0000913–$0.0000951 range, with an early rally stalling near resistance before fading into a gradual decline. Opening around $0.0000939, PEPE briefly reached $0.000095, but sustained selling pressure pushed it lower, consolidating near $0.000092 before finishing the session slightly weaker.

Derivatives Markets Remain Active
Despite the drop, PEPE’s derivatives markets are robust. Open interest in futures hit $560 million, and trading volume totaled $1.2 billion, indicating strong engagement from traders. The token outperformed the CoinDesk Memecoin Index (CDMEME), which fell 3% over the same period.

Technical Analysis

Resistance: $0.000095 remains a key cap, with repeated seller activity limiting upward moves.
Support: $0.000092 has held during intraday tests but shows signs of weakening.
Price Structure: A potential higher-low formation hints at bullish accumulation, though declining volume suggests market hesitation.

Traders are monitoring whether PEPE can maintain above $0.000091, with a confirmed break above $0.000095 needed to shift sentiment bullishly. For now, the token remains in a consolidation phase, with short-term breakout attempts losing momentum.