PEPE and Meme Coins Face Steep Declines Amid Bearish Technicals and Geopolitical Tensions

Meme coins, including PEPE, Dogecoin (DOGE), and others, have experienced sharp declines as geopolitical tensions between Israel and Iran trigger risk-off sentiment in crypto markets. PEPE, an Ethereum-based memecoin, dropped 21% in the past week, with its price structure showing lower highs and lower lows, indicating a prolonged bearish trend. Key technical support lies at the point of control (POC), combining crucial Fibonacci retracement and volume zones; a failure to hold this level could lead to further downside. DOGE fell 16% in the past week, and overall the meme coin market dropped 3% sector-wide and 28% over the past month. Whale netflow into PEPE collapsed by 97%, showing large players are exiting amidst rising uncertainty. Despite positive events such as token burns in other projects, sentiment remains negative. Bitcoin, meanwhile, gained dominance as traders seek safer assets. Historically, similar market shocks from geopolitical conflicts have led to rapid but short-lived declines, followed by rebounds. With important macroeconomic developments, such as the upcoming FOMC decision, expected soon, traders should monitor technical support at the POC for signs of any reversal or continued decline in PEPE and the wider memecoin market.