PEPE Memecoin Drops 35% This Month Despite Holder Loyalty

PEPE, the Ethereum-based memecoin, has experienced a significant decline this month, with its value dropping by 35%. Despite this downturn, 37% of PEPE holders have not sold any of their tokens in the past year, indicating a strong commitment to the memecoin. This steadfastness is particularly notable given that no PEPE investor who purchased in 2025 is currently profitable, highlighting the bearish trajectory of the memecoin.

PEPE's decline has been consistent across various timeframes, with a 10.38% drop over the past week, amplifying its monthly decline to 35% and year-to-date losses to 25.7%. Despite these losses, PEPE maintains its position as the third-largest memecoin by market capitalization, trailing only Shiba Inu and Dogecoin. The memecoin's community, known as the "PEPE Army," appears unwavering in their support, with 37% of holders not liquidating a single token over the past year. Additionally, 57% of wallets contain between 1 and 12 million PEPE tokens, which are sitting dormant in storage.

The commitment of PEPE holders is further evidenced by the fact that 46% of all holders remain profitable despite current market conditions. Crypto investor JamesonXBT, for instance, has maintained his PEPE position for over two years, expressing confidence that his patience will be rewarded substantially. Another trader identified a bullish chart pattern suggesting a potential 25% gain in a single candlestick, similar to previous occurrences with comparable formations.

Elon Musk, the CEO of Tesla and a rumored holder of PEPE, shared a PEPE-themed meme that has accumulated over 60 million views. This development has boosted confidence among the PEPE Army, who reference a similar Musk profile picture change in December that preceded PEPE’s massive rally to a market cap of over $10 billion. Contributing to the momentum, The New York Post published a purchasing guide for PEPE, while highlighting its potential as a long-term investment opportunity. A Bitcoin investor and OKX exchange key opinion leader also observed that PEPE is displaying chart patterns similar to those from two years ago, setting a bold target of an 800% move from current price levels.

The PEPE/USDT daily chart shows the token currently trading around $0.00000929, down 5.8% for the day. Price action is consolidating just above a crucial accumulation zone between $0.00000830 and $0.00000872, which has been identified as a support level during previous consolidation periods. This range has historically generated bullish reversals, as demonstrated in mid-March and early May. The RSI reads 30.85, nearing oversold territory, which suggests that bearish momentum may be diminishing and a potential bounce could be developing.

This outlook is backed by the visible bullish projection trajectory that curves upward from current levels, targeting a potential retest of the $0.00002000 region if support is maintained. Despite earlier bearish signals from the RSI indicator, if buyers regain control from this demand zone, PEPE could initiate a recovery toward mid-range resistance near $0.00002000, with additional upside potential toward the $0.00002836 high. However, a breakdown below $0.00000830 would negate this scenario and expose lower support around $0.00000525.

In summary, while PEPE has experienced a significant decline this month, the steadfastness of its holders and the potential for a bullish reversal suggest that the memecoin may still have upside potential. The commitment of the PEPE Army, along with the support of influential figures like Elon Musk, could contribute to a recovery in the memecoin's value. However, the outcome remains uncertain, and investors should exercise caution when considering PEPE as an investment opportunity.