Pepe continued its poor run today after a 10% overnight price crash sent it tumbling below $0.000007738.
It joins the rest of the meme coins that crashed by similar margins. But why is PEPE falling?
After nearly five days of consistent gains, PEPE surrendered to market pressure and shed 10% of its value last night. At the time of writing, it trades near the intraday lows of $0.000007709, having slipped from the day’s highs of $0.000008807.
Today’s slip continued the four-month downtrend suffered by PEPE coin investors since early December 2024.
The joke coin had hit an all-time high in December. 9, 2024 but has since shed as much as 72% of this value.
However, Pepe coin isn’t the only joke currency crumbling under the weight of negative macro-level factors limiting the crypto industry’s growth.
The rest of the meme coins, including Dogecoin and Shiba Inu have also been on a down-trending price action.
Today, they too have shed more than 8% of their prices.
The move saw Shiba Inu fall back three positions to become the 17th most valuable digital asset with a $7.8 Billion market cap.
Market Forces Affect PEPE’s Appeal to Investors
The depressing price action for meme coins like PEPE can be attributed to the watch-and-wait mood adopted by crypto investors.
Given the uncertainties surrounding inflation and upcoming tariffs, investors have fled volatile assets like joke currencies for comparatively stable cryptos like Bitcoin.
The meme coin’s lack of appeal to investors is evidenced by the reduced trader activity.
At the time of writing, for example, PEPE’s daily trading volume is down by close to 20%, according to data from CoinMarketCap.
And with the investor flight came in liquidity crunch and massive selling pressure that has driven PEPE’s prices down. This, in turn, leaves as many as 62% of current PEPE holders staring at unrealized losses.
PEPE Price Prediction
We remain bullish about Pepecoin’s future price action. We expect the upcoming crypto bull run to help it rebound and possibly peak around $0.0000666 before year-end.
Crypto assets are unregulated & highly speculative. No consumer protection. Capital at risk.
For the next few days, however, we expect PEPE to continue the downtrend. It will most likely trade between $0.000005 and $0.0000085, at least until the market gives a clear indication of how it will react to the April Tariffs.
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