#PEPE Down 15% to End Second Week in Losses, Where Is Frog Hype?

The $PEPE price decline is even more profound when its performance over the week is zoomed in. According to data from CoinMarketCap, the #meme coin has shed as much as 15% off its price, a drawdown that has also been stretched over the past month. This price slump is atypical of the meme coin nice, as they are known to exhibit the sort of volatility that typically benefits from market surges.

With Deutsche Bank revealing its Bitcoin custody plans for its institutional clients, the market picked up momentum, a trigger that was properly capitalized on by PEPE's core rivals Shiba Inu ($SHIB ) and #Dogecoin (DOGE).

Where is frog hype?

The current performance is not really befitting of the PEPE brand with the frog meme that infiltrated the internet earlier this year when it was first launched. PEPE recorded a truly meteoric rise in price, one that was seen as a new standard by market analysts in the digital currency #ecosystem at the time.