Pepe USD has experienced a notable decline today, driven by a combination of market dynamics and investor sentiment shifts. The broader cryptocurrency market has been under pressure, with Bitcoin ETFs seeing record-high outflows of $671.9 million, as reported by Farside Investors. This has contributed to a downturn in Bitcoin's price, which has mirrored declines in equities and bonds. The market's reaction to the Federal Reserve's anticipated rate cuts and the subsequent shift in tone from Chairman Powell has added to the uncertainty, prompting investors to reduce their risk exposure ahead of the holiday season.
Additionally, the meme coin market, including Pepe, has been affected by economic concerns and profit-taking activities. The recent dip in Bitcoin to $95,050 earlier this week has also played a role in the underperformance of meme coins like Pepe. As traders navigate these challenging conditions, the focus has shifted towards emerging opportunities, leaving established meme coins like Pepe in the red.
Pepe USD's price has fallen by 7.86% today, currently trading at $0.000016. The cryptocurrency reached a high of $0.000018 and a low of $0.000015 during the day.