Pepe Coin’s Price Drop Impacts Meme Coin Craze
Pepe Coin, a meme-based cryptocurrency, has seen a significant decline in value following an all-time high of $0.00000431 on May 5. Its current price of $0.00000172 represents a 60% decline, and its market value has fallen from $1.6 billion to $720 million. The decline may be attributed to investors cashing in profits and adopting new strategies, as well as diminishing enthusiasm for meme coins. Other meme coins, such as Dogecoin and Shiba Inu, have experienced similar boom-and-bust cycles. The decline of Pepe Coin could also affect other meme coins, with some experts predicting that many of these coins will be forgotten in the coming months. Despite its decline, Pepe Coin still has a trading volume of around $360 million, but investors are questioning its long-term prospects and value.