#TrumpTariffs Why is PEPE’s price down today?

Pepe’s 5.9% 24-hour decline reflects profit-taking after recent gains, technical resistance, and broader crypto market weakness.

1. Profit-taking after 10.9% weekly gain

2. Rejection at $0.00001340 resistance

3. Market-wide dip (-2.58% crypto cap)

Deep Dive

1. Technical context

PEPE faced rejection at the $0.00001340 level (38.2% Fibonacci retracement) on June 12, aligning with its 200-day SMA at $0.0000127. The price fell below the pivot point ($0.0000127) to $0.0000121, testing the 50% Fib support at $0.00001200.

Key metrics:

- RSI14 at 52.13 shows neutral momentum

- MACD histogram narrowed (+2.4E-8 to +1.2E-8), signaling weakening bullish pressure

- Spot volume dropped 18% to $1.09B, reducing upside fuel

2. Market dynamics

Bitcoin dominance rose to 63.36% (+0.19% daily), pressuring altcoins. The CMC Fear & Greed Index fell to 61 (from 65 yesterday), cooling speculative activity. PEPE’s 24-hour performance (-5.9%) underperformed the memecoin sector (-3.8% avg), suggesting coin-specific headwinds.

Notably, derivatives traders liquidated $5.54M in long positions on June 12 (Coinglass), exacerbating downward pressure.

Conclusion

PEPE’s dip combines technical resistance, sector rotation toward BTC, and derivative market deleveraging. Watch the $0.00001160 support (78.6% Fib) – a breakdown could extend losses, while holding above might set up a retest of $0.000013.

Will PEPE’s whale holders (45.57% supply) defend key supports as market sentiment stabilizes?