๐ญ #PEPE has been in a downtrend since last week, with its price falling from $0.0000165 to $0.000015, finding support above $0.000014.
๐ This 11% price drop this week has wiped out hundreds of millions of dollars from PEPE's market cap, which was at $6.25 billion.
โ So why did PEPE's price capitulate in just seven days, leading the losses among several cryptocurrencies like LDO, ETC, and BONK?
Mainly because its price had surged by 80% in the past month. So, it cooled off along with other ETH-related currencies that spiked after the SEC approved ETH ETF applications in May.