Pepe memecoin faces mixed market signals amid rising Bitcoin dominance

As of September 9, 2026, the Pepe memecoin is experiencing a period of market transition characterized by conflicting momentum signals across different timeframes. While the Fear & Greed Index indicates a sentiment of 66 (Greed), the total cryptocurrency market capitalization has declined by 1.27% to approximately $2.71 trillion.

Technical indicators show a divergence in momentum. The daily Relative Strength Index (RSI) sits at 57.39, suggesting a neutral regime where buyers lack sufficient conviction for a sustained trend. In contrast, the one-hour chart shows a bullish lean with an RSI of 52.79, indicating short-term intraday demand. However, the 15-minute timeframe shows momentum stalling with an RSI of 48.34.

Market conditions are further complicated by Bitcoin dominance, which has risen to 58.41%. This increase in Bitcoin's market share typically creates pressure on high-beta assets like memecoins, as capital flows toward Bitcoin, leaving Pepe and similar assets struggling to find independent momentum.