PEPE Prices Continue Downward Trend as Meme Coin Market Faces Distribution Pressure

• PEPE has dropped 48% from its January 2026 high amid a bearish trend in the meme coin market according to analysis.
• Whale activity and distribution patterns suggest ongoing selling pressure and a lack of sustained accumulation as data shows.
• On-chain and derivatives data indicate cautious behavior among large holders, with potential for mean-reversion spikes if liquidity returns according to MEXC analysis.

The price of PEPE has fallen significantly from its January 2026 peak, trading near yearly lows in a broader bearish trend within the meme coin market. Analysts have noted a lack of sustained accumulation and distribution patterns, indicating that the market remains in a phase of ongoing selling pressure. On-chain data and whale behavior suggest that large holders are reducing exposure to the token.

Whale activity in the meme coin space is a key factor influencing short-term price dynamics. Traders and investors are observing how large holders and 'smart money' are fading short-term rallies in the PEPE market. This pattern is typical of meme coins, where whales sell volatility to late buyers and reload at lower levels as sentiment weakens. The behavior has led to ongoing downward pressure and limited support from institutional players.

Despite the current downtrend, some traders remain optimistic about a potential rebound if risk-on conditions improve. The price has started to reclaim the 21-day EMA on pullbacks, suggesting that aggressive shorts may not yet control the market. A trader from Hyperliquid has projected a potential $69B market cap for PEPE by the end of 2026, anchoring community expectations despite the drawdown from late-2024 highs.

What is the current market performance of PEPE?

PEPE has been in a fatigued downtrend, with the price at $0.0000043 as of the latest data. This is a 29% decline over the past month and a 64% drop year-over-year. The token is now trading near yearly lows in a broader bearish trend. On-chain data and whale activity suggest continued selling pressure and volatility. Technical indicators show broken support levels and fading short-term rallies, with traders monitoring the 0.0000048 resistance level for potential breakouts.

Analysts highlight the speculative nature of the meme coin market and the absence of strong fundamentals to support PEPE's price. The token's performance is closely tied to speculative trading and retail sentiment rather than long-term utility or adoption as analysis indicates.

How are whale activities influencing the meme coin market?

Whale behavior plays a significant role in the short-term dynamics of meme coin markets. In the case of PEPE, whale activity has been focused on fading short-term rallies and reducing long exposure. This behavior is typical of memecoin microstructure, where whales sell volatility to late buyers and reload at lower levels when sentiment weakens according to market analysis.

Large holders and 'smart money' have been actively cutting long exposure to PEPE, contributing to the ongoing bearish trend. This has led to a fragmented market structure, with traders and investors closely watching for signs of accumulation or distribution. The behavior is consistent with broader patterns in the meme coin space, where whales manage their positions based on sentiment shifts and volatility cycles as observed.

What are the potential price targets and market expectations for PEPE in 2026?

Despite the current downtrend, some analysts believe PEPE could see a rebound if market conditions improve. Price has started to reclaim the 21-day EMA on pullbacks, which suggests that aggressive shorts may not yet have complete control. A trader from Hyperliquid has projected a potential $69B market cap for PEPE by the end of 2026, anchoring community expectations.

Technical indicators show that holding above the 21-day EMA could bring a price squeeze toward the mid-range of $0.000007–$0.000008. A more aggressive path could see the price reach $0.000010–$0.000012 if risk-on conditions and whale accumulation resume. These price targets are based on current market trends and speculative behavior rather than long-term fundamentals according to analysis.