Pepe Coin (PEPE) has experienced a significant decline today, driven by a combination of market dynamics and investor sentiment. The broader meme coin market has been under pressure, with major players like Dogecoin and Shiba Inu also facing downturns. This trend is partly attributed to Bitcoin's recent dip below $100,000, which has sent ripples through the speculative meme coin space. Additionally, the emergence of new meme coins like Wall Street Pepe and Solaxy, which are poised for potential gains, has diverted attention and resources away from established tokens like PEPE.
The recent listing of Bonk on Robinhood, which typically boosts meme coin prices, failed to provide the expected uplift for PEPE. Instead, the market's turbulent backdrop has overshadowed any positive momentum that might have been generated. Furthermore, the anticipation surrounding Bonk's upcoming "BURNmas" event, which aims to burn a significant number of tokens, has captured investor interest, potentially at the expense of PEPE. This shift in focus has contributed to the downward pressure on PEPE's price.
Pepe Coin's price has dropped by 14% today, reaching a low of $0.000015.