FOMC Looms: PEPE Price Action Hinges on Rate Hike Probability

PEPE is currently trading at around $0.00000356, stuck between a weakening support floor of $0.00000340 and the ceiling of Bitcoin's price action near $82,300.

The upcoming FOMC meeting on September 15-16 has many market participants nervous, with some predicting a rate hike that could negatively impact risk assets like PEPE.

Historically, meme coins have been sensitive to macroeconomic events and tend to leak value during times of uncertainty. With the probability of a September rate hike at around 65%, pure sentiment assets like PEPE are likely to face downward pressure.