Dogecoin and Shiba Inu Coin Plummet, Can PEPE Make 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 like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE) are all in a secondary position. PEPE only set a historical high of $0.00002825 just 11 days ago. But now, the trading price of meme coins is 45% lower than its peak. Will this 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 dropped sharply by 20%. At the time of writing, PEPE's trading price is $0.00001544. Earlier today, the trading price of this cryptocurrency peaked at $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 from its recent surge, in response to the tough times in the U.S. stock market and the Federal Reserve's announcement of interest rate cuts. It is important to remember that even PEPE's setbacks may represent potential gains.
PEPE Price Prediction
According to recent data, Pepe Coin is projected to rise 20% from its current price to a peak of $0.00001876 in the coming days. On December 22, this meme coin is expected to rise by 12.96%, with a trading price of $0.00001763.
During this period, a whale injected 150 billion PEPE tokens worth $2.72 million into the cryptocurrency market on Binance. Notably, this whale had previously withdrawn the same amount from the cryptocurrency exchange on November 28.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. With the asset price dropping in the last day, it seems that the frog-themed cryptocurrency may see more whale activity.
Musk is a staunch supporter of Dogecoin (DOGE) and has recently acquired the highly popular Musk Puppy PP, which is expected to multiply in value. Interested parties can like and follow for updates.
