In the past 24 hours, the entire cryptocurrency market has shown a downward trend. Particularly, the meme coin market has suffered a significant blow. Assets like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE) are all in a secondary position. PEPE recently set a historical high of $0.00002825 just 11 days ago. But now, the trading price of the meme coin is 45% lower than its peak. Will the asset recover over the weekend and bring profits to PEPE investors?
PEPE records double-digit decline
In the past 24 hours, this meme coin has significantly dropped by 20%. At the time of writing, PEPE is trading at $0.00001544. Earlier today, the cryptocurrency reached a trading price of $0.00001960.
The recent 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 from the recent surge, responding to the tough times in the U.S. stock market and the Federal Reserve's announcement of rate cuts again. It is important to remember that even PEPE's setbacks represent potential upside.
PEPE Price Prediction
According to recent data, Pepe Coin is expected to rise by 20% to a peak of $0.00001876 in the coming days from the current price. On December 22, this meme coin is projected to increase by 12.96%, trading at $0.00001763.
During this period, a whale invested 150 billion PEPE tokens, worth $2.72 million, into the cryptocurrency market on Binance. Notably, this whale previously withdrew the same amount from the cryptocurrency exchange on November 28.
150 billion PEPE is valued at $2.94 million. This data was recently released by the well-known company Lookonchain. With the asset price dropping over the past day, it appears that the frog-themed cryptocurrency may see more whale activity.
