Pepe Coin price has crashed, erasing over $7.1 billion from its value after its market capitalization plummeted from a record high of $10 billion to $2.9 billion today. It was trading at $0.000070 at press time, down from its all-time high of $0.00002832.
Why Pepe Coin Price Has Crashed
Pepe Coin price has crashed this year as investors have largely dumped meme coins. Data shows that Shiba Inu, the biggest meme coin on Ethereum network, has plunged by over 65% from its highest level in September last year.
Other meme coins have also plunged in 2025. For example, Donald Trump’s meme coins has crashed from $50 in January to around $5 today. Notably, the market capitalization of all Solana meme coins has moved from the all-time high of $25 billion in January to $6 billion today.
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This crash has coincided with the drop of the Altcoin Season Index, which has moved to 25, a fear zone. As such, there is a likelihood that this is happening as investors rotate from meme coinsa to more reliable coins like Ethereum and Bitcoin.
Another reason is that whale and large investors have continued to dump the tokens in the past few months. Whales now hold 5 trillion Pepe Coins, down from 7 trillion tokens in August.
Smart money, who have a long track record of success, have also dumped most of their tokens in the past few months. They now hold 1.95 trillion tokens, down from 4.16 trillion in August. This selling pressure has further contributed to the crash.
Pepe Coin price has also crashed as investors predict that there will be no spot Pepe ETF, with odds of approval on Polymarket remaining at 2%.
Pepe Price Technical Analysis
Technicals have also contributed to the ongoing Pepe Coin crash. The daily timeframe chart shows that the token has formed a perfect head and shoulders pattern since February last year.
The head is at its all-time high of $0.00002843, while the shoulders are at $0.00001715. Also, the neckline is at $0.000006878. Pepe remains below the 50-day and 100-day Exponential Moving Averages.
Therefore, the most likely scenario is that the token will continue to fall in the short term, with the next key level to watch being $0.0000002830, the lowest level this year.
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