In the past few hours, Pepe (PEPE) has been experiencing some fluctuation in its price, following a broader bearish market trend. The price of PEPE is currently hovering just above $0.00002, with a recent decline due to increased selling pressure. Despite this, PEPE has seen notable growth recently, with a 13% rise over the past week. However, concerns about the project's roadmap and limited direction may impact its long-term growth potential.
The PEPE token, based on the popular meme character Pepe the Frog, has a maximum supply of 420 trillion tokens, with a significant portion burned to maintain scarcity. Its community-driven nature continues to be a core element of its value. As meme coins can experience unpredictable surges, major announcements or exchange listings may trigger significant price movements, as seen when PEPE's price soared by 222% following its Binance listing.
For now, the immediate market trend suggests cautious movement, with price support expected at $0.0000191 and possible bearish pressure to lower levels.