PEPE Token Continues Downward Spiral, Registers 60% Drop From All-Time High

The meme-based token pepe (PEPE) has experienced a 14.9% diminution against the U.S. dollar implicit the past 24 hours, continuing its downward inclination from the past 5 days. Thus far, PEPE has seen a 60% driblet successful worth from its all-time precocious connected May 5.

Rival Meme Tokens Challenge PEPE’s Dominance arsenic Meme Token’s Value Plummets

Despite retaining its presumption arsenic the third-largest meme token successful presumption of marketplace capitalization, pepe (PEPE) has been losing worth since May 5, erstwhile it deed $0.00000431 per unit. Its worth has since plummeted by 60% successful USD terms. On May 8, Bitcoin.com News noted that the integer currency’s marketplace headdress dwindled from $1.8 cardinal to $790 million.

As of May 11, PEPE’s marketplace capitalization stands adjacent little astatine $680 cardinal astatine 11:00 a.m. Eastern Time. Over the past day, PEPE has shed different 14.9%, though its terms remains up by a flimsy 2.3% wrong the past week. Furthermore, portion it has mislaid 60% since hitting its grounds precocious connected May 5, PEPE inactive boasts an awesome summation of 2,825% from its April 18 debased point. In narration to planetary commercialized volume, PEPE’s figures person halved since May 8, present hovering astir $417 cardinal implicit the past day.

Rival meme tokens similar WOJAK, TURBO, and LADYS person presented challenges for PEPE implicit the past 2 weeks. These newcomers person gained important attraction recently; for example, milady meme coin (LADYS) surged by a important 3,520% wrong conscionable 1 day. The meme currency turbo (TURBO) besides climbed by an awesome 64% during the past week. Consequently, the wide meme token system experienced a mild diminution of 2.9% connected Thursday, settling astatine a full of $17.2 billion.

While societal media buzz suggests that whales mightiness drawback up much PEPE during this dip, the proviso held by the top 10 holders decreased from 34.07% connected May 8 to the existent 33.93%. On the different hand, the apical 100 PEPE holders accrued their holdings from 54% connected May 8 to a existent fig of 56.15%. Additionally, the fig of PEPE holders has swelled from 106,430 to the existent tally of 107,617.

What bash you deliberation lies up for pepe (PEPE) token? Will it retrieve from its caller diminution oregon look further challenges from rival meme tokens? Share your thoughts astir this taxable successful the comments conception below.

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