- Pepe changed hands near $0.0000058 after falling 9% amid sharp downturns for memecoins.
- Dogecoin and Shiba Inu also gave back gains, while Fartcoin slid about 13%.
- Memecoins struggle as privacy-focused coins see surging interest.
Pepe ranked among the weakest performers over the past 24 hours as momentum in the memecoin segment of the cryptocurrency market cooled.
The retracement was not limited to Pepe. Several leading memecoins that recorded strong gains earlier in January 2026 also retreated as investors locked in profits amid broader market repositioning.
A shift in sentiment toward privacy-focused cryptocurrencies coincided with declines in tokens such as Dogecoin, Shiba Inu and Bonk.
Selling pressure was more pronounced in some smaller names, with memecoins including Fartcoin recording double-digit losses.
Pepe price drops 9%
The frog-themed memecoin Pepe was down about 9% in early trading during U.S. hours on Thursday as the broader category experienced widespread declines.
The token traded near $0.0000059, slipping from recent highs around $0.0000065, as selling intensified alongside heightened trading activity.
Data from CoinMarketCap shows daily trading volume rose 32% to over $795 million, signaling likely downward pressure.
A further pullback could open the door to additional losses and provide bears with more momentum.
Earlier this year PEPE enjoyed a strong run as upward momentum swept through the memecoin space.
Speculative inflows and broad memecoin enthusiasm helped drive those moves.
But as with many tokens in the sector, profit-taking after rallies has led to a renewed correction.
Pepes price peaked near $0.0000070 on January 14, 2025, and could now retest lows around $0.0000055.
Dogecoin and Shiba Inu give back gains
Wider memecoin selling pushed the category’s total market cap down nearly 4% to $44.9 billion, while daily trading volume fell about 19% to roughly $5.7 billion.
Dogecoin (DOGE) experienced mild profit-taking, sliding about 5% to $0.14.
Its market cap remained near $23.9 billion, keeping it the largest memecoin by value, even after prices surrendered gains that had coincided with Bitcoin’s run toward highs near $97,000 on Wednesday.
Elsewhere, Shiba Inu (SHIB), the Ethereum-based token that had risen along with the broader market, traded around $0.0000085, down about 4% over the past 24 hours.
Solana-based Bonk (BONK) last traded near $0.0000105, down 7% on the day, while Official Trump (TRUMP) slipped roughly 5% to about $5.43.
Floki (FLOKI) was among the worst performers, falling roughly 8% in the past 24 hours to around $0.000051.
SPX6900 (SPX), a satirical anti-establishment memecoin that previously saw a rapid rise, was also under pressure and changed hands near $0.57, more than 10% lower on the day.
Pudgy Penguins, a memecoin linked to the popular NFT collection, traded around $0.012, down roughly 7% over the last 24 hours.
Fartcoin suffered heavier losses, dropping about 13% as gains were pared back to roughly $0.37.