The PEPE memecoin has declined nearly 5-6% in the past 24 hours, trading at $0.00001119-$0.00001121 as broader market weakness persists. Bitcoin fell to $117,788 (-0.9%), dragging altcoins including Ethereum and Solana lower. Despite the downturn, whale activity surged with 7.76 trillion PEPE ($86.9 million) moved in large transactions—a 45% daily increase per IntoTheBlock metrics.
Notable transactions include a 531.5 billion PEPE ($5.06 million) transfer to Binance, coinciding with failed support at $0.000011525. Trading volume fluctuated wildly, spiking to 6.91 trillion tokens hourly before dropping 18.2% to $775.5 million daily. The memecoin sector underperformed significantly, with CoinDesk's Memecoin Index plunging 6% versus the broader market's 1.35% decline.
On-chain data reveals whale holdings decreased 0.1% while exchange reserves fell 0.5% this week. Technical charts show lower highs and intensified selling pressure, threatening the next key support at $0.00000758—echoing last month's 18% crash where PEPE 'added a zero' to its price.