Pepe (PEPE) Token Sees Whole lot of Price Drop
In the past 30 days, Pepe (PEPE), a trending Meme Coin coin in the cryptocurrency industry, has experienced a substantial decrease in price. From mid-August to the present date, the token’s value has decreased from $0.000001249 to $0.00000069, resulting in a 50% loss.
Price Falls Occur in Waves
The decline in Pepe’s price took place in multiple waves, with periods of stability followed by further falls. This pattern can be observed on the token’s weekly chart as well, which shows a 15% loss in value in the previous 7 days. On September 9, the price was at $0.0000007867, but it sharply dropped to $0.0000007261 on September 10.
The price continued to decline until it reached its apparent bottom just over $0.0000006500, which has been a strong level of support thus far.
Possible Recovery with Bitcoin (BTC) Rebound
Analysts believed that Pepe’s performance could improve if Bitcoin (BTC) experienced a rebound. Fortunately, Bitcoin’s price did increase from $25.2k to $26.8k over the last few days.
Nonetheless, while Pepe did not see its own recovery, its value stabilized between $0.00000065 and $0.00000070 without breaking any support levels.
Predictions for PEPE’s Future
If Bitcoin (BTC) continues to climb, it might have a positive impact on the market and potentially lead to some recovery for PEPE. Specialists predict that the token could experience price growth of 20% to 40% in the near future.
Factors Contributing to Poor Performance
One whole lot of reason for Pepe’s poor performance is the recent scandal involving its development team. This news has had an impact on the token, but positive market changes may still influence its value.
Along with the scandal, Pepe has faced other challenges such as hacking of its Telegram account and major sell-offs by cryptocurrency whales. These factors have contributed to the downward trend of the token.
Is Bitcoin (BTC) BSC a Better Opportunity?
Although while there is probable for PEPE to recover due to its undervaluation, numerous in the cryptocurrency industry are hesitant to take dangers with Meme Coin coins due to the uncertainty surrounding them.
Alternatively, there are opportunities like Bitcoin (BTC) BSC, a new BEP-20 token that allows users to purchase a BSC-based version of Bitcoin. Despite the fact that it represents Bitcoin from 2011 when it was valued at $1, it is not the Bitcoin (BTC) we know today.
The presale of BTCBSC has been successful, raising over $2 Million in just one week. With 50% towards its soft cap, the presale is expected to end soon. If you wish to join the presale, you can buy BTCBSC with BNB, Ethereum (ETH), or USDT.
Hot Take: Pepe (PEPE) Token Struggles Amidst Challenges and Probable Opportunities
The Pepe (PEPE) token has experienced a whole lot of price fall in recent weeks, losing 50% of its price. Regardless of periods of stability, the token’s price has been unable to recover fully. Factors such as a scandal involving the development team and hacking incidents have contributed to its poor performance.
Nonetheless, there is still hope for PEPE if Bitcoin (BTC) continues to climb and bring positive changes to the market. Specialists predict probable price growth for the token in the near future. In addition, alternative opportunities like Bitcoin (BTC) BSC offer a different investment option, although Meme Coin coins come with their own uncertainties.
In the end, the destiny of Pepe (PEPE) remains uncertain, but with the right push, it might overcome its challenges and regain its growth trajectory.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.