{"id":530498,"date":"2023-05-08T16:30:34","date_gmt":"2023-05-08T16:30:34","guid":{"rendered":"https:\/\/wncen.com\/?p=530498"},"modified":"2023-05-08T13:25:21","modified_gmt":"2023-05-08T13:25:21","slug":"pepe-prices-plummet-by-45","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/pepe-prices-plummet-by-45\/","title":{"rendered":"PEPE Token Futures Cast Gloom For Investors As Prices Plummet By 45%"},"content":{"rendered":"

Pepecoin (PEPE) tokens were issued in mid-April and quickly gained popularity among investors, reaching a market capitalization of $1.8 billion in just over three weeks. However, the meme coin’s journey took a downward turn as the token dropped nearly 45% from their peak on Friday, causing a ripple of concern among investors.<\/span><\/p>\n

Some speculate that the sudden price drop was due to traders taking profits on their positions, while others point to the introduction of Pepe-tracked futures as a possible cause.\u00a0<\/span><\/p>\n

Either way, the Pepe token’s once-promising journey has hit a snag, leaving investors wondering whether this amphibian-inspired cryptocurrency can regain its footing and hop back into the limelight.<\/span><\/p>\n

Related Reading: Shiba Inu: Whales Accumulate Yet Price Drops \u2013 What\u2019s Going On?<\/a><\/div>\n

PEPE Token’s Value Down After Short-Lived Rally<\/strong><\/h2>\n

As of writing, the PEPEUSD token’s price on <\/span>CoinGecko<\/span><\/a> stands at a mere $0.00000233, having fallen 10.6% in the past 24 hours. This comes as a disappointment to investors who had witnessed a remarkable seven-day rally, during which the token’s value had surged by a staggering 221.0%.<\/span><\/p>\n

The sudden downturn in the PEPEUSD’s value is a reminder of the volatility that characterizes the world of cryptocurrency. Despite the promising rally of the past week, the token’s current price suggests that caution is still warranted for those considering investing in this meme-inspired digital currency.<\/span><\/p>\n

<\/p>\n

Crypto total market cap weakens to $1.12 trillion. Chart: TradingView.com<\/a><\/pre>\n
Related Reading: How Long Will Dogecoin Remain Sideways As Sellers Threaten Bearish Breakout?<\/a><\/div>\n
Following an unprecedented surge in value that saw <\/span>PEPEUSD rise by almost 5,000,000%<\/span><\/a> in just a few weeks, holders of the altcoin may be capitalizing on their gains by selling off their positions. This is reflected in the significant decline in the token’s value, which previously reached a peak of $0.00000431.<\/span><\/p>\n
Pepecoin had quickly taken the crypto market by storm, and in just over three weeks since its issuance in mid-April, it had achieved a market capitalization of $1.8 billion. However, the sudden drop in value indicates that the token’s meteoric rise may have been too good to last, and investors may be re-evaluating their positions accordingly.<\/span><\/p>\n
PEPEUSD Profits Converted To Ether As Deposits Hit New High<\/strong><\/h2>\n
Following the massive surge in Pepecoin’s value, investors are reportedly taking profits by converting their holdings into Ether (ETH), which recently hit an all-time high in deposits to exchanges since November 2021 when it reached a high of $4,500.\u00a0<\/span><\/p>\n
\n
\ud83d\ude80 Updating our report on #Ethereum<\/a>‘s sky-high active deposits, exchange addresses interacting on the network is now at its highest level since November, 2021. As expected, $ETH<\/a> is showing decoupling signs and on the cusp of breaking $2k once again. https:\/\/t.co\/zYjY7669yj<\/a> https:\/\/t.co\/dQlKsTVyt2<\/a> pic.twitter.com\/2nMXOUGgYC<\/a><\/p>\n
\u2014 Santiment (@santimentfeed) May 5, 2023<\/a><\/p><\/blockquote>\n
On Monday, Santiment, an on-chain analytics firm, <\/span>suggested in a tweet<\/span><\/a> that the rising number of Ether deposits could be a result of traders cashing out their Pepe positions.<\/span><\/p>\n
The Pepecoin rally has seen some investors turn small investments into significant profits within just a few days after the coin’s issuance. <\/span><\/p>\n
However, with the recent drop in the token’s value and the high volatility of cryptocurrency in general, investors should proceed with caution and conduct thorough research before investing in any digital currency.\u00a0<\/span><\/p>\n
(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk)<\/em><\/p>\n
-Featured image from Alabama Cooperative Extension System\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
Pepecoin (PEPE) tokens were issued in mid-April and quickly gained popularity among investors, reaching a market capitalization of $1.8 billion in just over three weeks. However, the meme coin’s journey took a downward turn as the token dropped nearly 45% from their peak on Friday, causing a ripple of concern among investors. Some speculate that the sudden price drop was due to traders taking profits on their positions, while others point to the introduction of Pepe-tracked futures as a possible cause.\u00a0 Either way, the Pepe token’s once-promising journey has hit a snag, leaving investors wondering whether this amphibian-inspired cryptocurrency can regain its footing and hop back into the limelight. Related Reading: Shiba Inu: Whales Accumulate Yet Price Drops \u2013 What\u2019s Going On? PEPE Token’s Value Down After Short-Lived Rally As of writing, the PEPEUSD token’s price on CoinGecko stands at a mere $0.00000233, having fallen 10.6% in the past 24 hours. This comes as a disappointment to investors who had witnessed a remarkable seven-day rally, during which the token’s value had surged by a staggering 221.0%. The sudden downturn in the PEPEUSD’s value is a reminder of the volatility that characterizes the world of cryptocurrency. Despite the promising rally of the past week, the token’s current price suggests that caution is still warranted for those considering investing in this meme-inspired digital currency. Crypto total market cap weakens to $1.12 trillion. Chart: TradingView.com Related Reading: How Long Will Dogecoin Remain Sideways As Sellers Threaten Bearish Breakout? Following an unprecedented surge in value that saw PEPEUSD rise by almost 5,000,000% in just a few weeks, holders of the altcoin may be capitalizing on their gains by selling off their positions. This is reflected in the significant decline in the token’s value, which previously reached a peak of $0.00000431. Pepecoin had quickly taken the crypto market by storm, and in just over three weeks since its issuance in mid-April, it had achieved a market capitalization of $1.8 billion. However, the sudden drop in value indicates that the token’s meteoric rise may have been too good to last, and investors may be re-evaluating their positions accordingly. PEPEUSD Profits Converted To Ether As Deposits Hit New High Following the massive surge in Pepecoin’s value, investors are reportedly taking profits by converting their holdings into Ether (ETH), which recently hit an all-time high in deposits to exchanges since November 2021 when it reached a high of $4,500.\u00a0 \ud83d\ude80 Updating our report on #Ethereum‘s sky-high active deposits, exchange addresses interacting on the network is now at its highest level since November, 2021. As expected, $ETH is showing decoupling signs and on the cusp of breaking $2k once again. https:\/\/t.co\/zYjY7669yj https:\/\/t.co\/dQlKsTVyt2 pic.twitter.com\/2nMXOUGgYC \u2014 Santiment (@santimentfeed) May 5, 2023 On Monday, Santiment, an on-chain analytics firm, suggested in a tweet that the rising number of Ether deposits could be a result of traders cashing out their Pepe positions. The Pepecoin rally has seen some investors turn small investments into significant profits within just a few days after the coin’s issuance. However, with the recent drop in the token’s value and the high volatility of cryptocurrency in general, investors should proceed with caution and conduct thorough research before investing in any digital currency.\u00a0 (This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk) -Featured image from Alabama Cooperative Extension System\u00a0<\/p>\n","protected":false},"author":557,"featured_media":530504,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[84471,88215,88156,4735],"class_list":["post-530498","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-meme-coin","tag-pepe-price","tag-pepecoin","tag-price-action"],"acf":[],"yoast_head":"\nPEPE Token Futures Spell Doom For Investors As Prices Drop 45%<\/title>\n<meta name=\"description\" content=\"Pepecoin (PEPE) tokens were issued in mid-April and quickly gained popularity among investors, reaching a market capitalization of $1.8 billion in just\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn. Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats \u2013 a testament to his dedication to his furry companions (more on that later). Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/wncen.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"PEPE Token Futures Cast Gloom For Investors As Prices Plummet By 45%","url":"http:\/\/wncen.com\/news\/pepe-prices-plummet-by-45\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/pepe-prices-plummet-by-45\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/a-25.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/a-25.png?fit=1116%2C778"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["meme coin","pepe price","pepecoin","price action"],"dateCreated":"2023-05-08T16:30:34Z","datePublished":"2023-05-08T16:30:34Z","dateModified":"2023-05-08T16:30:34Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"PEPE Token Futures Cast Gloom For Investors As Prices Plummet By 45%\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/pepe-prices-plummet-by-45\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/pepe-prices-plummet-by-45\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/a-25.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/05\\\/a-25.png?fit=1116%2C778\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"meme coin\",\"pepe price\",\"pepecoin\",\"price action\"],\"dateCreated\":\"2023-05-08T16:30:34Z\",\"datePublished\":\"2023-05-08T16:30:34Z\",\"dateModified\":\"2023-05-08T16:30:34Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/05\/a-25.png?fit=1116%2C778","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/530498"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=530498"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/530498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/530504"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=530498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=530498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=530498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}