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Pepe and other meme coins have been in a strong bearish trend.
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Its daily trading volume and social media activity have retreated.
Pepe’s price continued to slip amid waning interest and reduced trading volume. The token fell to a low of $0.0000014, the weakest level since May 17. Overall, Pepe has declined by more than 66% from its highest point this year.
Volume and volatility slipping
Pepe made headlines earlier this month when its popularity surged during a so-called meme coin season. One notable story was that the token created several illiquid millionaires—holders whose large positions could not be easily sold without moving the market.
Pepe’s price movement mirrors patterns seen with earlier meme tokens such as Bonk and Tamadoge. These assets typically spike during their early phase due to hype and speculative buying, then fall back as early investors take profits and interest fades.
Data indicates that demand for Pepe is declining. CoinMarketCap reported a 24-hour trading volume of about $188 million for the token. While still substantial, that figure is far below the near-$1 billion peak volume seen at its height.
Search interest has followed the same trajectory. Google searches for Pepe reached a record high on May 5 but have since dropped to their lowest level since April 28. This matters because meme coins often perform well when search interest and public attention are rising.
Social media engagement has also tapered off. At its peak, Pepe was among the most-discussed coins across platforms like Twitter, Reddit, and StockTwits. According to LunarCrush data, the number of Pepe-related tweets has steadily fallen, reflecting reduced social momentum.
That said, Pepe is not necessarily finished. Meme tokens have a history of abrupt comebacks, especially when broader crypto markets turn bullish or a new narrative captures traders’ attention.
Pepe price outlook
On the 30-period chart, Pepe has been in a pronounced downtrend over the past several days. The token is hovering near a key support level around $0.00000014, a price it has struggled to break below in recent sessions. It is also trading under the 25-period moving average, which signals prevailing bearish pressure.
Volume has been decreasing and the Average True Range (ATR) has contracted, indicating lower volatility. These conditions increase the chance of a further bearish move, with sellers potentially testing the next significant support near $0.00000011.
How to buy Pepe
If you decide to buy Pepe, follow basic safety and risk-management practices: use reputable exchanges or decentralized platforms, confirm contract addresses carefully, avoid investing more than you can afford to lose, and consider using hardware wallets for long-term storage. Monitor liquidity and spreads, since illiquid tokens can be difficult to exit without large price impact.