A sudden collapse of the PEPE coin removes it from the list of the 20 largest digital currencies.. Is the rise over?
The meme coin (PEPE) has seen a sharp decline of 15% over the past few days, causing it to overtake Litecoin (LTC) in terms of market capitalization and drop out of the list of the top 20 cryptocurrencies.
Although the price of PEPE rose significantly in May, the currency saw a noticeable decline in the last days of the month. The month started at $0.0000061, and by the beginning of this week, the value of the cryptocurrency had nearly tripled to exceed $0.0000170.
Since hitting this peak on Monday, the value of the toad coin has fallen sharply to around $0.0000143. Which means that its value has decreased by more than 15% compared to its highest level.
Despite the sudden drop in the price of PEPE, the coin's trading volume has increased significantly over the past 24 hours. It reached $2.47 billion, an increase of 216% from the beginning of the month.
This increase in trading volume indicates increased interest among traders in the currency, despite the recent decline in its price.