PEPE Token Drops 10.59% After High Volatility and Massive Futures Liquidations, Trading Surges

PEPEUSDT experienced a significant price decline of 10.59% in the past 24 hours, dropping from 0.00000680 to 0.00000608 according to Binance data. This decrease follows a period of high volatility, attributed to a wave of short liquidations in 1000PEPEUSDT futures contracts at $0.00682 and $0.00681, as well as profit-taking after a recent multi-day rally fueled by renewed interest in meme coins. Earlier bullish momentum was driven by strong buying volume and positive analyst sentiment, with PEPE showing reversal signals and a breakout from previous downward trends. However, recent on-chain data indicated a temporary cooling-off period, with reduced network growth and active addresses, which contributed to the pullback. Trading activity remains elevated, with spot volumes exceeding $300 million and futures volumes above $1.6 billion, while the market cap is estimated around $2.5–$2.7 billion and circulating supply stands at 420.69 trillion PEPE.