Following an explosive run, the Pepe meme coin has plummeted more than 60% from its May 5 all-time highs (ATH) to around $0.00000143.

Attention has shifted away from PEPE in recent weeks after its price soared following Binance announcing it would be listed in its “innovation zone.”

According to Lunar Crush, social engagement for Pepe is down 31.5% in the past week.

Moreover, relative to its price, social engagement has continued to fall below its price since reaching its ATH on May 5.

A decrease in interest should be expected following a parabolic run like what Pepe experienced, but will investors ever return their confidence in the coin, or is it destined to drop even further?

A recent technical analysis from crypto trader CryptoMichNL on Twitter examined Pepe’s recent price action and stated that “every block resistance is an opportunity to short.”

The final price target for Pepe, based on the analysis, was $0.00000085 – a further 40% sell-off from its current price.

However, Pepe has achieved notoriety in the crypto space, with 290k Twitter followers, 116k holders, and a $600 million market cap.

Therefore, we will likely see the price recover at some point – however, one newly launched meme coin could steal a lot of its glory in the coming days and weeks.

Wall Street Memes Launches with $100k Raised in 24 Hours

Wall Street Memes has just launched its WSM token presale and has already raised more than $100,000 in its first 24 hours since going live.

Another meme coin that could quickly gain mass popularity, Wall Street Memes is the token for the popular social media account that boasts more than 500,000 followers across its channels and already has a lot of name recognition in the community.

Previously, the developers brought the NFT collection Wall St Bulls to the market, with that collection selling out in just 32 minutes when it launched in 2021.

The pro