PEPE Price Hangs On At $0.000010 After Brutal 21% Slide and $13M Dump by Arthur Hayes

PEPE holders have had a rough week. The meme coin has slipped more than 21% in just five days, touching the $0.000010 mark on Saturday — the lowest level since early July. And what triggered it? A heavy-handed dump worth $13 million from none other than Arthur Hayes.

The BitMex co-founder cashed out portions of his ETH, ENA, and PEPE holdings, setting off alarms across the crypto community. Now, investors are wondering: is this rock bottom for PEPE, or just the eye of the storm?

Hayes’ Sell-Off Sparks Panic

First, the timing. Then, the volume. Hayes offloaded a significant chunk of his crypto portfolio just as market sentiment was beginning to sour. His $13 million exit didn’t go unnoticed.

Ethereum (ETH), Ethena (ENA), and PEPE were all part of the dump. PEPE took the biggest hit percentage-wise, with the timing of the sell order seemingly aligned with its steady fall.

Some speculated that Hayes is positioning himself defensively amid broader crypto uncertainty. Others think he’s simply done playing with meme coins for now.

Either way, the market reacted fast — and not in a good way.

PEPE Price Action Tells a Story

Price charts often speak louder than headlines. And PEPE’s tells a familiar one.

The five-day streak of red candles started with gradual bleeding but quickly turned into a nosedive. Saturday’s low of $0.000010 marked the first visit to that level since July 9. For short-term traders, that’s a red flag. But for some long-term speculators, it’s more of a flashing yellow — caution, not full panic.

In recent hours, the selling pressure appears to be cooling off. Flat candles and a stabilised RSI suggest that bears are losing momentum — at least for now.

The question is: has the coin finally found its footing, or is it just pausing before another leg down?

Some Whales Still Holding On

It’s not all doom and gloom. Despite the turbulence, several wallet trackers show major holders are standing pat.

Data from Lookonchain and SpotOnChain highlighted that some top PEPE holders haven’t moved any tokens — a sign of either confidence or paralysis. Take that as you will.

Meanwhile, on-chain data showed smaller traders are still scooping up dips. It’s the classic meme coin dance — panic sellers out, diamond hands in.

Where Does PEPE Go From Here?

There’s no easy answer. But let’s look at the possibilities being weighed by analysts and traders:

• If $0.000010 holds, a short-term bounce to $0.000012 is likely — a modest recovery.

• If the level breaks decisively, the next stop could be around $0.0000085, last seen in early June.

• Social volume and trading interest are down, suggesting retail momentum is fading.

Still, meme coins are unpredictable by nature. PEPE, like DOGE and SHIB before it, often moves on hype, humour, or headlines — not fundamentals.

And the next tweet or celebrity mention could flip the script entirely.

Market Sentiment Is Cooling Off

Zoom out, and PEPE’s story fits into a broader pattern.

Altcoins and meme coins alike have been under pressure as Bitcoin consolidates below $60K. Retail appetite is thinning, and liquidity is drying up across most exchanges.

Here’s how PEPE has fared compared to other major meme coins in the last 7 days:

The takeaway? PEPE isn’t alone, but it’s bleeding harder than most.

That said, one day of sideways action has some hoping the worst is over. Others aren’t convinced.

Bottom Line? Don’t Blink

The crypto market is twitchy right now. One minute it’s up, the next it’s spinning out.

PEPE’s $0.000010 level has turned into a psychological battleground. It’s not about the fundamentals. It’s about what traders think will happen next — and how fast.

Whether it holds or breaks could depend on:

• Broader market sentiment heading into Monday.

• Any statements from Hayes or other big players.

• Social media chatter — and yes, even memes.

If there’s one thing PEPE has proven since its debut, it’s that it doesn’t go quietly. Stay tuned.