Memecoins News: PEPE Drops Nearly 2% as Memecoins Struggle, Late Bounce Signals Buyer Support

Key Takeaways:PEPE price slipped 1.9% to $0.00000719, underperforming the broader crypto market.Memecoin sector fell 1.91%, while the CoinDesk 20 Index gained 0.5%.Trading volume rose 7.55% above weekly averages — a sign of profit-taking, not panic selling.A late-session volume surge lifted PEPE off intraday lows, suggesting buyer support near $0.0000072.PEPE Underperforms Market Amid Mild Profit-TakingMemecoin favorite PEPE fell nearly 2% over the past 24 hours to $0.00000719, lagging behind the broader cryptocurrency market, which posted modest gains.The CoinDesk 20 (CD20) index — tracking top digital assets — rose 0.5%, while the CoinDesk Memecoin Index (CDMEME) slid 1.91%, reflecting cooling momentum across speculative tokens.Despite the pullback, PEPE’s trading volume remained within a normal range — just 7.55% above its weekly average — indicating routine profit-taking rather than a shift toward bearish sentiment, according to CoinDesk Research.Mixed Technical Picture: Downtrend Persists, but Buyers EmergeThroughout most of Monday’s session, PEPE posted lower highs, reinforcing a short-term bearish setup. Price action remained confined within a 3.5% range, lacking the volatility that often triggers stronger moves.However, late in the session, volume surged to 4.53 trillion tokens, more than double the 24-hour average. The increase coincided with a brief rally to $0.00000742, now a key resistance level to watch.PEPE briefly dipped to $0.00000718 before rebounding above $0.00000721, suggesting buyers are stepping in near support and stabilizing price action.Consolidation May Set the Stage for RecoveryPEPE remains in a downtrend, but the late-session recovery signals growing buyer interest at lower levels. Analysts say sustained support above $0.0000072 could pave the way for a gradual rebound, especially if broader risk sentiment continues to improve.For now, the memecoin remains a range-bound trade, with volume spikes serving as early indicators of renewed momentum.