#PEPE Declines by 7% Amid Broader Market Downturn
In August 2024, Pepe experienced a substantial decline in its price, reflecting investors’ deteriorating confidence in the meme project.
This market downturn movement is attributed to the fear in the general crypto market, with investors and holders afraid of incurring losses from holding. This fear of incurring losses has caused traders and holders to refuse to trade in the ecosystem.
This fear has seen PEPE decline by 7.44% since moving from $0.00000845 to $0.000007 between August 10 and September 9. Furthermore, PEPE also saw a decline in its trading volume, moving from $540.77 million to $508.49 million.
These price movements have led experts to predict the possible turnout of events for PEPE’s price, as they foresee PEPE taking a bullish turn towards $0.0000022 by October 2024.