PEPE Teeters on Collapse as Fed Rate Hike Looms

PEPE is struggling to hold its price at $0.0000036 as it approaches a critical week ahead of the Federal Reserve's potential rate hike decision on September 16.

The token has been relatively stable in recent days, with a modest +1.1% gain over the last 24 hours and a +1.3% weekly increase, but this is largely due to the broader meme coin sector's 6% surge during the same period.

However, PEPE is underperforming its peer group, which raises concerns about its underlying strength. The token's price action is being driven by macro factors rather than internal momentum, with the Federal Reserve's rate hike decision set to have a significant impact on the cryptocurrency market.

The correlation between PEPE and Bitcoin is particularly concerning, with the token's price potentially dropping below $0.0000030 if BTC breaks below $77,000.