Pepe Coin has experienced a significant downturn today, driven by a broader market pullback and increased volatility in the cryptocurrency sector. The recent decline in Bitcoin's price, which fell to $92,000, has triggered a wave of liquidations across the market, affecting altcoins like Pepe Coin. This downturn has been exacerbated by the Federal Reserve's announcement that it may cut interest rates less frequently in 2025, leading to a cautious sentiment among investors. Additionally, a whale's recent activity, involving the deposit of 150 billion PEPE tokens into Binance, has added to the selling pressure, as the whale attempts to mitigate losses from previous trades.
The overall market sentiment remains bearish, with significant outflows from spot Bitcoin ETFs and a general decline in altcoin prices. Despite Pepe Coin's recent all-time high of $0.00002825, it has now fallen 45% below that peak, reflecting the challenges faced by meme coins in the current market environment. The broader market dynamics, including Bitcoin's volatility and economic concerns, have contributed to the decline in Pepe Coin's value, as traders reassess their positions in light of these developments.
Pepe Coin's price has dropped by 4.75% today, currently trading at $0.000016. The cryptocurrency reached a high of $0.000018 earlier in the day but has since faced downward pressure.