The meme-based token pepe (PEPE) has experienced a 14.9% decline against the U.S. dollar over the last 24 hours, continuing its downward trend from the last five days. Thus far, PEPE has seen a 60% drop in value from its all-time high on May 5.
Rival Meme Tokens Challenge PEPE’s Dominance as Meme Token’s Value Plummets
Despite retaining its position as the third-largest meme token in terms of market capitalization, pepe (PEPE) has been losing value since May 5, when it hit $0.00000431 per unit. Its value has since plummeted by 60% in USD terms. On May 8, Bitcoin.com News noted that the digital currency’s market cap dwindled from $1.8 billion to $790 million.
As of May 11, PEPE’s market capitalization stands even lower at $680 million at 11:00 a.m. Eastern Time. Over the past day, PEPE has shed another 14.9%, although its price remains up by a slight 2.3% within the last week. Furthermore, while it has lost 60% since hitting its record high on May 5, PEPE still boasts an impressive increase of 2,825% from its April 18 low point. In relation to global trade volume, PEPE’s figures have halved since May 8, now hovering around $417 million over the past day.
Rival meme tok
Go to Source to See Full Article
Author: Jamie Redman
Tip BTC Newswire with Cryptocurrency
Donate Bitcoin to BTC Newswire
Donate Bitcoin Cash to BTC Newswire
Donate Ethereum to BTC Newswire
Donate Litecoin to BTC Newswire
Donate Monero to BTC Newswire
Donate ZCash to BTC Newswire
