The price of one of the most popular meme coins, Pepe ($PEPE), has dropped by 21.6% in the past 24 hours as the beginning of a trade war by Trump scared off investors during the weekend.
The drop has caused $PEPE to accumulate losses of 27% in the past 7 days and 56.5% in the past month while its value has halved since the year started.
Trading volumes in the past 24 hours stood at $3 billion, accounting for 79% of the token’s market cap. Meanwhile, $PEPE is trading 67.3% below its all-time high from December 9, 2024, when the asset peaked.
For the first time this year, the combined value of meme coins, as tracked by CoinMarketCap, has dropped to $70 billion. Most of this decline has happened in the last 24 hours.
Meanwhile, trading volumes across the entire segment have surged by 156%, highlighting the extent to which investors have panicked after Trump’s decision to impose high tariffs on Mexican and Canadian imports.
PEPE Seems Poised to Bounce Back from Yesterday’s Flash Crash
According to data from CoinGlass, $11.2 million worth of PEPE long positions have been liquidated in the past 24 hours. Meanwhile, in the past 2 days, over $13 million worth of long positions were wiped, making it the highest two-day streak since December 8 and 9, back when the asset reached its highest level on record and started its descent.
Although open interest in PEPE had been holding steady despite the token’s drop in the second half of January, contract volumes have now declined sharply, moving from around $490 million back on January 26 to $326 million as of yesterday.
This implies that there was probably a significant volume of leveraged long positions on PEPE that have now been wiped as a result of this weekend’s crash.
From a technical perspective, PEPE has put on the breaks after hitting a long-dated lower trend line. This line has served as support thus far during the first session of the week and after the American market opened.
However, both the Relative Strength Index (RSI) and the MACD have not confirmed that this could be the beginning of a recovery on the daily chart.
Meanwhile, on the hourly chart, we do see a handful of positive signals that confirm a bullish outlook for today. First, the RSI is above the signal line and is emerging out of deeply oversold levels after yesterday’s flash crash.
Meanwhile, the MACD shows rising positive momentum as the price bounces off this key trend line support.
The OG Pepe meme coin has not performed positively this year, but Wall Street Pepe ($WEPE) is lined up to become one of the best crypto presales of the year as it enters the last stage of its presale.
Wall Street Pepe ($WEPE) Nears $70M Raised Despite the Market’s Turmoil
Investors have not been deterred from investing in the Wall Street Pepe ($WEPE) presale despite the latest drop that cryptocurrencies have experienced, as the event has raised $68 million to date.
With only 12 days for the presale to end, this could be one of the best ICOs of 2025 and could overshadow the successful listing of Pepe Unchained ($PEPU) last year, which delivered returns of over 700% to early buyers.
The Wall Street Pepe project aims to build a robust community of like-minded traders who have an eager desire to beat wallets at their own game.
Deep-pocketed investors have manipulated and rigged the game for too long. The $WEPE army and its collective strength will not just identify good trading ideas but will also have the necessary resources to withstand and prevail if whales want to flush them out of their trades.
At its discounted price of $0.000365, $WEPE currently offers significant upside potential to investors who get in while the presale event lasts. Analysts agree that the popularity that this meme coin has seen makes it a perfect candidate for a top-tier listing.
To buy $WEPE, head to the Wall Street Pepe website and connect your wallet. Simply swap ETH, USDT, or BNB tokens or use a bank card to complete the transaction.
