The cryptocurrency market is known for its volatility, and PEPE is the latest victim. Its value has been on a downward spiral, losing 11% of its worth in just a week.
The price drop has been brutal, going from $0.0000165 to $0.000015, wiping out a significant chunk of its market capitalization.
It's not hard to see why - PEPE's price had skyrocketed by 80% in the past month, so a correction was overdue.
The same trend is being seen in other cryptocurrencies like LDO, ETC, and BONK, which are all feeling the pinch. The excitement around ETH ETF approvals last month seems to have worn off, and the market is taking a breather.
Only time will tell if PEPE will continue to struggle or bounce back👀
