$PEPE has faced challenges amid the ongoing crypto market downturn, with its price dropping 3.35% over the past week to $0.000019.
Adding to the market's struggles, Federal Reserve Chairman recently clarified that the US Central Bank has no plans to participate in government efforts to stockpile Bitcoin. This, coupled with hints of fewer rate cuts next year due to inflation remaining above the 2% target, has put additional pressure on the crypto market. Bitcoin's difficulties have subsequently impacted altcoins like PEPE.
Analysts predict that PEPE's price consolidation will persist, with the token likely hovering around the $0.000020 range for the remainder of the year.
