PEPE Price Drops 6% Today, 35% Monthly Loss

Ethereum-based memecoin PEPE has experienced a significant decline, with its price falling by 6% today, marking a monthly loss of 35%. This drop has resulted in year-to-date losses of 25.7%, leaving all PEPE buyers in 2025 in the red. Despite the substantial decrease, data from IntoTheBlock indicates that 37% of PEPE holders have not moved their tokens in over a year, raising questions about whether these holders are exhibiting strong conviction or if their wallets are inactive.

The token, currently trading at $0.00000929, has seen an 11% drop over the past week. However, it remains the third-largest memecoin by market cap at $3.9 billion, trailing behind Shiba Inu and Dogecoin. Whales control a significant portion of the token supply, holding 75% of it. Interestingly, 46% of all holders are still profitable, suggesting that early accumulators have some cushion. Wallets holding between 1 and 12 million PEPE tokens have remained inactive, indicating minimal sell pressure from mid-sized holders for the time being.

Renowned trader JamesonXBT has held onto PEPE for over two years, expressing optimism that patience will pay off. Another analyst noted a bullish chart structure similar to those that triggered explosive 25% rallies in previous cycles. Adding to the speculative optimism, Tesla CEO Elon Musk recently shared a PEPE-themed meme, which garnered over 60 million views. This post echoes a December profile picture update that preceded a PEPE rally, leading to an increase in market cap to over $10 billion. The timing of Musk's post did not go unnoticed by traders, hinting at rising mainstream awareness.

Technical charts add to the bullish speculation. The Relative Strength Index (RSI) is at 30.85, nearing classic oversold levels. Historically, PEPE has bounced from this zone during similar downturns, including in March and May. The price is currently consolidating above a support zone between $0.00000830 and $0.00000872. If this zone holds, analysts believe PEPE could target a recovery toward $0.00002000, with potential upside to $0.00002836. However, a breakdown below $0.00000830 would invalidate this outlook, potentially dragging PEPE down to $0.00000525.