Meme Coin Pepe Sees Steep Decline in 30 Days, Losing 70% Since All-Time High

According to statistics, the meme coin asset pepe (PEPE) still holds the third position in terms of the largest meme token market capitalization. However, PEPE has lost over 70% in value during the past 30 days.

Pepe Value Slides 26% Lower Over the Past 2 Weeks

The meme coin pepe (PEPE) has experienced a significant decline in value recently after an initial surge when the token was launched. The token gained real-world value on April 18, 2023, and since then, Pepe has risen 2,192% against the U.S. dollar. However, over the past seven days, Pepe has dropped more than 13%, and according to 14-day statistics, it is down over 26%. Additionally, precisely 30 days ago on May 5, 2023, the meme coin reached its all-time high (ATH) at $0.00000431 per unit.

Since reaching its ATH, PEPE has lost over 70% of its USD value. In the past day, PEPE has slid 4.1% lower. Despite the decline, PEPE still holds the third-largest market cap among meme coins, currently at $530 million. At the time of writing, PEPE is ranked 84 out of the 10,085 crypto assets listed on coingecko.com. Over the past 24 hours, the meme coin, which features the likeness of Pepe the Frog, has experienced a worldwide trade volume of $57.25 million.

The top two leading meme coin crypto assets, dogecoin (DOGE) and shiba inu (SHIB), have performed significantly better than PEPE in the past week. While PEPE experienced a 13% loss during this period, DOGE has gained 0.3% against the U.S. dollar, and SHIB is down 1.3%. Currently, there are 116,394 PEPE holders, and the top ten wallets hold 41.67% of the coin’s supply. The top 100 richest PEPE holders control 64.60% of the total supply of this meme coin asset.

Meme coins that have performed notably well this week include iotex shiba (IOSHIB), which has surged over 200%, bullbear ai (AIBB) with an 83% increase, and dyor token (DYOR) up 67% against the U.S. dollar. On the other hand, the top three meme coin losers are 3d3d (3D3D) down 59%, turbo (TURBO) down 49%, ignore fud (4TOKEN) down 36%, and wojak (WOJAK) dropping 35% in value this week. As of Sunday, June 4, 2023, the meme coin economy is valued at $16.96 billion, experiencing a slight 0.1% decline in the last 24 hours.

What are your thoughts on Pepe’s recent 26% decline in value over the past two weeks? Share your views and opinions about this subject in the comments section below.

via Jamie Redman