Dogecoin, Shiba Inu Coin collectively plummet, can PEPE rebound and stage a comeback?
In the past 24 hours, the entire cryptocurrency market has shown a downward trend. In particular, the meme coin market has suffered a significant blow. Assets such as Dogecoin (DOGE), Shiba Inu Coin (SHIB), and Pepe Coin (PEPE) are all in a secondary position. PEPE only set a historical high of $0.00002825 just 11 days ago.
In the past 24 hours, this meme coin has dropped by 20%. At the time of writing, PEPE's trading price is $0.00001544. Earlier today, the trading price of this cryptocurrency reached as high as $0.00001960.
The latest drop in this asset is related to the overall market decline. The cryptocurrency market has hit resistance levels and is considered to be temporarily consolidating after the recent surge, in response to the difficult times in the U.S. stock market and the Federal Reserve's announcement of another interest rate cut.
According to recent data, Pepe Coin is expected to rise by 20% from the current price to a peak of $0.00001876 in the coming days. On December 22, this meme coin will rise by 12.96%, with a trading price of $0.00001763.
During this period, a whale invested 150 billion PEPE tokens worth $2.72 million into the Binance cryptocurrency market. Notably, this whale had previously withdrawn the same amount from the cryptocurrency exchange on November 28.
The value of 150 billion PEPE is $2.94 million. This data was recently released by the well-known company Lookonchain. As the asset price has fallen in the past day, it seems that the frog-themed cryptocurrency may see more whale activity.
