PEPE Coin Drops Over 30% Amid Tariff Concerns, Major Sell-Offs

PEPE coin has experienced a significant price decline, dropping close to the key support level of $0.00001 amid a broader crypto market retracement. This downturn includes a notable sell-off by Arthur Hayes, former BitMEX CEO, who liquidated $414,000 worth of PEPE tokens and other altcoins due to concerns over U.S. tariff policies and weakening economic conditions, which has heightened market uncertainty. Despite the bearish trend, technical indicators such as the TD Sequential buy signal and RSI recovery from oversold levels suggest a potential short-term rebound, though failure to hold the $0.00001 support could lead to further losses. Trading volumes have decreased from their July highs, indicating reduced selling pressure and possible market stabilization. Analysts remain cautious, highlighting that a breakout above resistance levels near $0.0000125 could trigger a recovery, while continued pressure may push prices lower. Overall, PEPE's price action reflects a mix of market-wide profit-taking and specific macroeconomic concerns impacting speculative assets like memecoins.