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PEPE Token Continues Downward Spiral, Registers 60% Drop From All-Time High – Market Updates Bitcoin News

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Despite retaining its position as the third-largest meme token in terms of market capitalization, PEPE has been losing value since May 5.

As of May 11, PEPE’s market capitalization stands even lower at $680 million at 11:00 a.m. Eastern Time. Over the past day, PEPE has shed another 14.9%, although its price remains up by a slight 2.3% within the last week. Furthermore, while it has lost 60% since hitting its record high on May 5, PEPE still boasts an impressive increase of 2,825% from its April 18 low point.

Rival meme tokens like WOJAK, TURBO, and LADYS have presented challenges for PEPE over the last two weeks. These newcomers have gained significant attention recently; for example,

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Meme Token PEPE Plunges Below $1 Billion Mark Amidst Market Decline – Market Updates Bitcoin NewsThe meme coin PEPE reached an all-time price high on May 5, 2023, but it has since plunged over 50% from that position.
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