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Meme coin PEPE fell 22% this week after losing nearly 80% of its value since its peak in May, according to CoinDesk Market Index data. This comes as data tracked by Velo Data shows that Dogecoin (DOGE) is sluggish this year as well, with most of the bearish pressure coming during European hours.
In a whirlwind of Pepecoin FUD, fearless whales continue to accumulate. Supply surges, exchanges quiet, and hope flickers as Pepe's fate dances on the charts.
On August 29th, the crypto market witnessed a sudden surge in buying pressure as BTC price pumped to the federal court verdict favoring Greyscale investment over US SEC on Bitcoin ETF. As a result, the PEPE price showed another rebound attempt from $0.0000082 support to trigger a fresh recovery.
In a crypto galaxy filled with stellar names like Shibarium, Shiba Inu, Dogecoin, ShibaSwap, and Pepe Coin, finding a novel and exciting entrant is always electrifying. As the crypto sphere rapidly evolves, Shiba Inu's Layer 2 solution, Shibarium, and the decentralized trading prowess of ShibaSwap are capturing headlines.
Pepe Coin's value has plummeted after three founders exploited the multi-signature transfer system, making off with approximately $15 million worth of the cryptocurrency. This incident has caused Pepe Coin's value to drop by nearly 40% in the past two weeks, currently sitting at $0.0068942.
In a rapidly evolving turn of events within the cryptocurrency realm, Pepe Coin (PEPE) and various other digital currencies find themselves navigating a tumultuous market. Amidst these dynamic changes, the foremost cryptocurrency, Bitcoin (BTC), grapples with slight losses, setting off a chain reaction of price adjustments across the entire cryptocurrency landscape.
PepeCoin has lost its appeal as profitable meme crypto after losing over 80% since its record peak four months ago. Furthermore, the price outlook shows the alt could endure further declines in the upcoming weeks or months, sending prices to zero.
Bitcoin (CRYPTO: BTC) moved slightly lower, but the cryptocurrency prices traded above the $26,000 level on Tuesday. Ethereum (CRYPTO: ETH), also edged lower, but traded above the key $1,600 mark this morning.
Some Pepecoin hopefuls eye a massive PEPE price rebound with on-chain data showing strong accumulation in recent days.
PEPE is garnering attention from major investors as the buzz surrounding the meme coin continues to grow. However, despite the increasing interest, these tokens are grappling with a persistently bearish sentiment, as their price performance remains lackluster.
Over the past five days, the Frog-themed memecoin has been hovering above the monthly support of $0.00000082. While the broader market uncertainty prevents the coin buyers from a significant rebound the lower price rejection in the daily candle reflects the rising demand pressure is intact.
The meme coin has sunk around 17% since insider trades startled investors.
Large investors begin to show an interest in PEPE, as hype around the memecoin begins to rise. Overall sentiment around the PEPE tokens remains negative as price action continues to suffer.
Bitcoin seems to be returning to its low volatility having barely moved at all in the past week, but some major altcoin are experiencing a sell-off.
Pepe has dominated discussions over the weekend following a controversial $16 million transfer.
"The Hash" tackles today's biggest crypto news, including a closer look at how demand is shaping up for PayPal's new stablecoin, PYUSD. The CEO of Prime Trust says the crypto custodian has lost $8 million in a doomed Terra stablecoin investment.
The team behind Pepe (PEPE), the memecoin that's taken crypto markets by storm this year, has issued a statement regarding a large transfer of coins that caught its community's attention.
The timing of this transaction couldn't have been more captivating, coinciding with a PepeCoin market surge in trading activity. Over the last 24 hours, the trading volume of PepeCoin has soared past the remarkable $219 million mark.
In the fast-paced world of cryptocurrencies, unexpected developments can send shockwaves through the market. The recent update surrounding the PEPE project has certainly done just that, leaving traders and investors puzzled and seeking answers. What began as a routine multisig transaction swiftly transformed into a series of perplexing actions, triggering both speculation and concern within the community.
The cryptocurrency world witnessed a stir when Pepe [PEPE], a well-known meme coin, plunged drastically after a hefty selloff.
In response to increasing bearishness in the crypto market, the PEPE buyers are struggling to rebound from the combined support of $0.0000082 and the lower trendline of the channel pattern. This chart pattern maintains the ongoing correction, offering sellers a dynamic resistance trendline to sell on bullish bounces, the coin price at a lower trendline
The world's largest crypto exchange Binance on Monday announced the removal of 39 liquidity pools from its Binance Liquid Swap. Major coins and tokens removed from liquidity pools are Cardano (ADA), Polygon (MATIC), Bitcoin (BTC), Tron (TRX), Avalanche (AVAX), Polkadot (DOT), Filecoin (FIL), and Pepe Coin (PEPE), Binance Announces Liquidity Pool Removal Crypto exchange Binance
According to reports from one of the founders, the perpetrators of the theft were 3 former members of the project who unbeknownst to him took away 60% of all the coins in the wallet before walking away from the project for good.
Aside from PEPE, RUNE and APE are also in the red on a weekly scale.
