PEPE Slides 2.6% as Resistance Holds, Derivatives Activity Stays Robust
Meme token PEPE declined 2.6% over the past 24 hours, trading near $0.0000915, underperforming the broader market, with the CoinDesk 20 Index down 1.4%.
The token’s range stretched from $0.0000913 to $0.0000951, as an early rally stalled near resistance before easing lower. PEPE opened around $0.0000939, briefly peaked at $0.000095, and fell back to $0.000092 by the session close after consistent selling pressure.
Derivatives Markets Remain Active
Despite the pullback, derivatives activity remained elevated. Open interest in PEPE futures hit $560 million, while daily trading volume reached $1.2 billion, underscoring ongoing trader participation. PEPE outperformed the broader memecoin segment, where the CoinDesk Memecoin Index dropped 3%.
Technical Snapshot
- Resistance: $0.000095 remains the key hurdle, with repeated rejections.
- Support: $0.000092 is defending intraday lows but showed late-session vulnerability.
- Price Structure: Early higher lows indicate possible bullish accumulation, though declining volume signals cautious sentiment.
Traders will monitor whether PEPE can hold $0.000091 as support and build momentum. A clean break above $0.000095 on strong volume could trigger a bullish shift, while a failure to defend support may lead to further retracement.
