PEPE Drops 7% Amid 2.29 Trillion Token Trading Volume Surge
PEPE, a meme-inspired cryptocurrency, experienced a 7% decline over the last 24 hours. Trading volumes reached 2.29 trillion tokens, indicating substantial market activity. The token's price fell from $0.00000995 to $0.00000931, testing support at $0.0000093.
- The initial high was $0.00001014 before entering a downtrend.
- High trading volumes suggest significant market activity.
- PEPE closed slightly higher at $0.0000094 after stabilizing briefly.
PEPE underperformed compared to the broader market, which dropped 3.35% as per the CoinDesk 20 index. The memecoin sector overall decreased by about 4.3%.
- Market correction attributed to profit-taking and political risks.
- Concerns rise over insider control in newer memecoins like YEPE.
Nansen data shows the largest PEPE addresses on Ethereum grew holdings by 0.26%, with exchange funds increasing by 0.35%.