PEPE erased over 20% of its value in June, losing momentum as buyers struggle to hold key support. With price action now ranging near a pivotal zone, the memecoin appears stuck in a cooling phase.
As $PEPE aims to stabilize at the current $0.0000092 zone, traders are watching for signs of renewed demand.
The frog-inspired memecoin is trading at $0.000009224, down by over 5.8% over the last 24 hours. Longer timeframes are not kinder, however, as Pepe is now at a 7% loss in the week, adding up to 22% losses over the last 30 days.
While the market has indeed taken a downturn today, mostly due to macropolitical reasons (we’ll get there in a bit), $PEPE has been performing worse than its two main competitors, Dogecoin and Shiba Inu, in a daily, weekly, monthly, and even year-to-date timeframe.
However, Pepe is still edging the two major dog tokens at a 60-day and 90-day timeframes, meaning that despite recent weakness, it has outperformed both DOGE and SHIB over the medium term.
Macro Risks Looming
President Donald Trump confirmed today that he does not intend to postpone tariffs deal deadlines, setting the stage for a potential wave of renewed trade tensions.
The self-imposed July 9 deadline marks the end of a 90-day pause on sweeping “reciprocal” tariffs that Trump first introduced in April. In a recent interview, he stated he doesn’t plan to extend the deadline, adding, “I could, no big deal,” but emphasized he’d prefer to move forward with the tariffs.
This adds another layer of uncertainty in financial markets, and altcoins tend to be the first casualties. Bitcoin dominance grew by 0.73% over the last 24 hours, signaling that crypto investors may be anticipating shaky conditions ahead and moving away from more volatile assets.
PEPE Holds On
The memecoin has now entered the pivotal $0.0000092 zone, and its next movements could determine if short-term action will give us another rally attempt or further downside. This trading area was once a major milestone for $PEPE, as the memecoin saw its major March 2024 ATH near this level.
Since then, that area has served as a recurring battleground between bulls and bears, serving as both resistance and support.
RSI on a daily timeframe shows a gradual uptrend since June 22, even as price action remains range-bound. This suggests that buyers have found a home at the current price, potentially building momentum for another go upward.
Meanwhile, the MACD technical indicator corroborates this narrative as the bearish histogram, which had been active since May 24, has finally flipped into positive territory, signaling a potential shift in momentum. This crossover suggests that bearish pressure is fading, and bulls may be regaining control.
If macro risks die off in the next couple of days, we could see renewed momentum for $PEPE. For that to happen, however, volume needs to return in force. If these conditions align and macro tensions ease, PEPE could reclaim $0.000013, the next key zone on the horizon.
However, if bears continue to drive the price downward, a test of the $0.000079 zone is the next likely target.
Technical Analysis Recap
- Current Price: $0.00000922 (as of July 1, 2025)
- Next Zones:
- Resistance: $0.00000950 → $0.00001300
- Support: $0.00000890 → $0.00000790
- Momentum Signals:
- RSI is trending upward on the daily chart, suggesting improving strength beneath the surface.
- MACD has flipped bullish, with the histogram turning positive for the first time since late May.
- Macro Risks:
- Tariff tensions ahead of the July 9 deadline are weighing on sentiment.
- Bitcoin dominance is rising, signaling a shift away from altcoins.
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