PEPE Price Dances Within Descending Channel as Bitcoin Influence Looms
PEPE, a meme token built on internet culture, has been closely watched this week. Launched in April 2023, it quickly grew into one of the largest communities in the meme coin space and still holds that position today.
The current price is $0.00000330, down 4.1% over the past 24 hours. This keeps the price within a range of $0.00000322 to $0.00000344, with a market cap of $1.391B.
Futures activity is split between OKX and MEXC, both with around $110M in volume over the past 24 hours. LBank follows at $27.80M, then Bitget at $26.12M and KuCoin at $22.28M.
The 4-hour PEPE/USDT chart on Binance shows price compressing inside a descending channel since early September. The RSI sits at 34.88, below its moving average of 38.96, reflecting the selling pressure that has kept price pinned near the channel floor.