$PEPE
is a meme coin, so it depends mostly on hype and market mood, not real-world value.

In war or global tension, investors usually become careful and move money to safer assets.

Because of that, PEPE often:

goes down faster than big coins like Bitcoin

has sharp ups and downs

depends heavily on short-term trading, not long-term stability

In short:

During uncertain or “war-like” market conditions, $PEPE is usually risky and weak, and it only rises if overall crypto hype returns.