MEME-Inspired Cryptocurrency Pepe dropped 2.6% over the past 24 hours to trade near $ 0.0000915, which significantly under-priesting the wider crypto market, as Coindesk 20 (CD20) index has fallen 1.4% in the same period.
The token traded in an interval between $ 0.0000913 and $ 0.0000951, with a short attempt at a rally that stops near resistance before giving way to a slow decline, according to Coindesk Research’s technical analysis data model.
The session opened near $ 0.0000939 and peaked early around $ 0.000095 before the consistent sales pressure weighed on the token. Pepe’s price fell steadily during the night and the morning hours and consolidated cards nearly $ 0.000092 before slipping lower.
Despite the fall, the activity continued on derivatives that the markets continued to build, and Pepe has managed to surpass the Memecoin sector, which measured by the Coindesk Memecoin Index (CDMEME) is down by 3% over the last 24 hours.
Open interest in Pepe Futures reached $ 560 million according to Coinglass data, while the total trading volume rose to $ 1.2 billion.
Currently, market surveys are focused on whether Pepe can maintain its foothold over $ 0.000091 support zone or risks sliding towards lower intervals.
A break above $ 0.000095 could change mood, but any such movement should be supported by stronger volume and confirmation from wider market conditions.
Overview of Technical Analysis
Pepe’s 24-hour trading area covered a $ 0.0000034 spread, approx. 4% between session heights and low. Sellers consistently emerged near $ 0.000095, making it a clear level of resistance for now.
Support near $ 0.000092 held up during early and mid-session tests, but weakened into the last hours. The token showed signs of a higher low formation earlier in the session, a structure often associated with bullish accumulation.
However, the volume in the dense paint decreases a picture of hesitation, not conviction. Meal increases in trade activity suggest some positioning during short -term outbreak attempts, but these efforts lost steam as the volume fell off.
Unless buyers return into force, the recent attempted consolidation attempt can make room for a wider retacement.
