PEPE Drops 18%
Pepe, the memecoin that started the memecoin mania, has had a rough week, with its price dropping by 18% on the weekly charts. However, in the last 24 hours, it has experienced a minor 0.23% increase. Accompanying this rise is its market capitalization, which is now $351 million. The 24-hour trading volume shows a decline of 41%.
Pepe Price History
Pepe entered the crypto space in April, shortly after Elon Musk changed the Twitter (Now X) icon to Doge and then turned it back. The first meme coin to appear was Pepe, which went on a massive bull rally and reached a market capitalization of $1 billion. Pepe has the highest trading volume of $43 million on Binance. Pepe’s all-time chart shows a 1480% increase from its starting value, meaning early investors are still seeing significant gains.
Pepe’s Recent Challenges
Pepe recently experienced a decline due to its Telegram group being hacked and taken over. Pepe has warned investors to be cautious and not fall for scams mentioning airdrops, staking, mints, or claims.
Pepe Price Analysis
Daily charts show that Pepe has been in decline since July 3rd, with negative sentiment indicated by its RSI of 47 and negative MACD. The trend lines suggest more drops may come soon.
PEPE Alternative – WSM
Wall Street Memes (WSM), released as a presale crypto, has gained massive traction on social media, raising over $26 million in less than three months. Inspired by Wall Street Bets, WSM aims to mobilize the price of its native crypto through the power of memes. With over 260,000 followers on Twitter and support from influential figures like Elon Musk, Wall Street Memes is predicted to be the next big meme coin of 2023.
Hot Take
While PEPE has experienced a decline, it doesn’t mean the meme renaissance is over. The success of Wall Street Memes and its potential for significant growth indicates that the meme coin trend is still alive and well in the crypto world.
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