Core Insights - PEPE cryptocurrency experienced a 7% decline in the last 24 hours, with trading volumes reaching 2.29 trillion tokens [1] - The price fell from $0.00000995 to $0.00000931, testing key technical support at $0.0000093 [1] - The broader memecoin sector is down approximately 4.3%, indicating a market correction [3] Price Movement - PEPE's price peaked at $0.00001014 before entering a downtrend due to selling pressure [2] - Despite a brief stabilization, PEPE closed slightly higher at $0.0000094, underperforming the CoinDesk 20 index, which lost 3.35% [2] Market Dynamics - High trading volumes suggest that the recent pullback was driven by significant market activity rather than low liquidity [2] - Profit-taking by investors and rising political risks, particularly in Japan's fiscal policy, contributed to the market correction [3] Insider Control Concerns - There are renewed concerns regarding insider control in newer memecoins, with 60% of the supply of YEPE, a PEPE-inspired token, controlled by insiders [3] Address Holdings - Data indicates that the holdings of the 100 largest PEPE addresses on Ethereum increased by 0.26% over the past week, while funds on exchanges grew by 0.35% [4]