The recent launch of the TRUMP meme coin on the Solana network has significantly impacted the meme coin market, causing a shift in investor focus. As traders flock to the new TRUMP token, other meme coins, including Pepe (PEPE), have experienced a decline in price. The TRUMP token's rapid rise to prominence, with billions in trading volume, has drawn attention away from established meme coins, leading to a sell-off in these assets. This shift in market dynamics has resulted in a notable decrease in the price of Pepe, as investors reallocate their funds to capitalize on the hype surrounding the TRUMP token.
The TRUMP token's launch has not only affected Pepe but also other major meme coins like Dogecoin and Shiba Inu, which have similarly seen price drops. The Solana network, chosen for the TRUMP token, has benefited from this development, with its native token and associated decentralized exchange tokens experiencing gains. This trend highlights the volatility and rapid shifts in the meme coin market, where new entrants can quickly alter the landscape and investor sentiment.
Pepe's price has fallen by 9.72% today, reaching a low of $0.000018.