PEPE Coin Slides Amid Bitcoin Dip and US Government Shutdown Risk

Pepe Coin (PEPE) is facing a tough day on Friday, January 30, 2026, as its price stands at $0.000004622 with a 24h volume of $509.71 million and a market capitalization of $1.94 billion, showing a 1% price drop in the last 24 hours, according to CoinMarketcap.

Source: CoinMarketcap

The token’s performance is also being affected by a sharp pullback in Bitcoin, which is resulting in volatility in the broader cryptocurrency space.

Making matters worse for the overall cryptocurrency space, as reported by a crypto analyst known as Wimer.x, “The US Government is likely to shut down at 12:00 AM ET on Saturday, January 31, 2026, according to prediction platforms Polymarket and Kalshi, which price an 86% probability.”

Source: Wimer.x X Post

This shutdown may cause delays in the payment of wages, government contracts, approvals, and even the release of critical economic data, which are adding to the uncertainty that’s impacting risk-sensitive cryptocurrencies like PEPE.

Also Read: PEPE Breakout Reflects Meme Coin Revival, Eyes $0.0000070

PEPE Holding Midline, Possible Short-Term Price Bounce Expected

In the 3-day chart, the price of PEPE is seen to be holding above the midline of the descending channel. This descending channel indicates a downtrend where the price of the asset has recorded lower highs and lower lows.

In the last few sessions, the price action of the the token has formed a base around the midline, which is usually a sign that the market is absorbing the selling pressure. If the price is able to bounce from the midline, then the start of bullish momentum is expected.

Source: TradingView

If the midline holds, PEPE could test the following resistance levels:

• $0.00000630 – first target if buying volume increases
• $0.00000850 – secondary resistance, aligned with minor swing highs
• $0.00001480 – medium-term target if bullish momentum strengthens
• $0.00002600 – long-term target achievable only with sustained market optimism and Bitcoin recovery

Trends in volume are also important. An increase in volume during a breakout will help sustain the token’s price, while a failure to hold its midline will see the token testing its lower boundary and continue its downtrend.

In conclusion, its technical analysis shows that it has a crucial 24-48 hours ahead, depending on Bitcoin’s movements. Global factors, which include a possible shutdown by the US government, will also have an effect on its price movements.

PEPE Volatility Rises on BTC Dip and US Shutdown

The current situation of Bitcoin’s pullback combined with the US government shutdown is making the PEPE market highly volatile. 

The short-term price movements can be expected. In this case, it is crucial to keep an eye on technical levels as well as market conditions.

Also Read: PEPE Price Sees Strong Breakout With Upside Target Set at $0.0000080