PEPE Slides Nearly 5 Percent Amid Whale Sell-Off and Mounting Market Volatility

The meme-inspired cryptocurrency PEPE experienced a sharp decline of nearly 5% over a 24-hour period, driven by intense selling pressure and unprecedented trading volumes. The token’s value tumbled from $0.000012023 to $0.00001119 as bearish sentiment dominated the market despite multiple recovery attempts.

Trading activity reached extraordinary levels during the selloff, with volumes hitting 6.91 trillion tokens within a single hour. The price briefly found resistance near $0.000011692 before facing another wave of rejection at $0.000011549, where volumes exploded past 85 trillion tokens and pushed the memecoin toward its session lows.

Whale Activity Drives Market Pressure

Large holders appeared to be behind much of the selling pressure, as PEPE struggled to find meaningful support levels throughout the trading session. When the token approached what traders hoped might be a floor at $0.000011525, the absence of significant buying interest highlighted the market’s cautious stance toward the memecoin.

Whale just lost on a long in $pepe Always use a 1x leverage if it's slanting down. pic.twitter.com/PIZTh3VC8T

— DoxaUSD #DUSD #Dfinity #ICP #ETH #BTC (@DoxaUSD) July 29, 2025

Data from Nansen reveals that whale holdings decreased by 0.1% over the past week, while PEPE deposits on exchanges fell by 0.5%. This combination of reduced large-holder positions and lower exchange inflows suggests institutional and retail traders alike have been stepping back from the token.

Broader Memecoin Sector Struggles

PEPE’s decline outpaced the broader cryptocurrency market downturn, with the token underperforming compared to the CoinDesk 20 index, which dropped 1.35% during the same period. The memecoin sector as a whole faced significant headwinds, with the CoinDesk Memecoin Index plummeting 6%.

Technical indicators point to continued weakness ahead, as charts display a pattern of lower highs accompanied by intensifying selling pressure. This combination typically signals that additional downside movement could be on the horizon for the popular memecoin.

Implications for Memecoin Volatility

The sharp decline in PEPE highlights the continued extreme volatility within the memecoin sector, particularly when large holders begin liquidating positions. This selling pressure could signal broader weakness in speculative cryptocurrency assets as market sentiment remains fragile.