Pepe to Eclipse Dogecoin as Market Indicator, Analyst Says

Despite the recent enthusiasm, Pepe has faced some setbacks, with its market cap nearing $2 billion and then plunging., like Edward Moya of broker Oanda, believe that the frenzy surrounding meme coins like Pepe could be detrimental to Bitcoin's performance. Bitcoin recently fell below the significant $28,000 level, and Moya suggests that excessive attention to meme coins is diverting potential investment away from it.

However, current market data from CoinGecko indicates a slight recovery for Pepe. As of now, the price of PEPE stands at $0.00000193, reflecting a 1.9% increase. Despite a 55.20% decrease from its all-time high of $0.00000431 just five days ago, the meme coin still holds a market cap of over $809 million.

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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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BTC Dips Below $28K, While LDO, BCH Defy Market Sentiment With 7% Jumps (Market Watch)Lido DAO (LDO) and Bitcoin Cash (BCH) are the two exceptions from the top 50 altcoins with notable gains.
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