Pepe Coin (PEPE) has plunged to $0.00000400, marking a 75% decline from its yearly high and an 85% drop from its all-time high. This bearish trend is accompanied by a sharp reduction in futures open interest, which fell from over $1 billion in July to $200 million, reflecting ongoing market deleveraging.
On-chain data from Nansen reveals a significant increase in PEPE tokens held on exchanges, soaring to 258.7 trillion from a low of 250 trillion this month. This indicates investor capitulation, with over 8 trillion tokens (valued at approximately $32 million) being dumped. Technically, PEPE has formed a falling wedge pattern on the daily chart, often a precursor to a bullish breakout, with a potential target of $0.000010 if the pattern holds.
Amid PEPE's struggles, a rival meme coin, Little Pepe (LILPEPE), is emerging as a focal point. Built on an Ethereum-compatible Layer 2 network, LILPEPE integrates features like zero-tax trading, sniper bot protection, and a community launchpad called Pump Pad. Its presale has raised over $27.467 million, delivering 120% gains to early participants, and analysts project potential returns of up to 15,000% upon major exchange listings.
While PEPE faces headwinds from whale exits and technical fragility, LILPEPE's blend of meme culture and utility-driven elements positions it as a contender for sustained growth in the meme coin sector.
