{"id":542526,"date":"2023-07-13T09:49:16","date_gmt":"2023-07-13T09:49:16","guid":{"rendered":"https:\/\/wncen.com\/?p=542526"},"modified":"2023-07-13T09:59:50","modified_gmt":"2023-07-13T09:59:50","slug":"pepe-price-drops-more-than-60-from-ath-what-lies-ahead","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/pepe-price-drops-more-than-60-from-ath-what-lies-ahead\/","title":{"rendered":"PEPE Price Drops More Than 60% From ATH – What Lies Ahead?"},"content":{"rendered":"

The price of PEPE coin has experienced a significant decline, plummeting over 60% since reaching its peak on May 5. This substantial downturn has dealt a heavy blow to optimistic investors who were aiming to capitalize on their impressive triple-digit profits from June.\u00a0<\/span><\/p>\n

The latest insights from on-chain data suggest massive whale movement. In light of these developments, a pressing question arises: <\/span><\/p>\n

What lies ahead for the PEPE price, and what can be expected in the future?<\/span><\/p>\n

Trader Accumulates PEPE: A Long-Term Investment?<\/strong><\/h2>\n

Amidst the crypto community’s ongoing speculation, <\/span>Lookonchain recently unveiled<\/span><\/a> a noteworthy transaction involving trader “osf_rekt.” <\/span><\/p>\n

It appeared as though osf_rekt was making a conscious effort to maintain ownership of the assets as the user traded 141 Ethereum (ETH) for a staggering 173 billion units of the popular meme coin, PEPE.<\/p>\n

\n

We noticed that @osf_rekt<\/a> spent 141 $ETH<\/a> ($265K) to buy 173B $PEPE<\/a> again 16 hrs ago and transferred 690B $PEPE<\/a>($1.05M) to a safe multisig wallet.<\/p>\n

He spent a total of 536 $ETH<\/a> ($1.04M) to buy 613B $PEPE<\/a> from June 14 to July 11, with an average buying price of $0.00000169. pic.twitter.com\/jDzdf0JVvu<\/a><\/p>\n

\u2014 Lookonchain (@lookonchain) July 12, 2023<\/a><\/p><\/blockquote>\n

What makes this transaction even more intriguing is that it was not the first instance of osf_rekt acquiring PEPE. This pattern of behavior by the trader using a pseudonym implies, in most cases, that they have a fundamental view that the cryptocurrency has positive prospects.<\/span><\/p>\n

Considering the widespread buzz surrounding PEPE, this accumulation of tokens by osf_rekt does not come as a surprise. However, it is worth noting that PEPE has experienced a recent decline in value. <\/span><\/p>\n

Over the past seven days alone, its value has depreciated by 14.7%, with a 24-hour slump of 2.8%, ultimately placing its current price at $0.00000150, as reported by <\/span>CoinGecko<\/span><\/a>.<\/p>\n

\"\"<\/p>\n

Source: Coingecko<\/pre>\n
Declining User Adoption And Network Growth<\/strong><\/h2>\n
In addition, a <\/span>PEPE price report<\/span> notes that the meme coin has witnessed a concerning trend of dwindling user adoption. This is evident from the data provided by Santiment, which highlights a substantial decrease in the number of new users joining the PEPE network over the course of one week.\u00a0<\/span><\/p>\n
\"\"<\/p>\n
Source: Santiment<\/a><\/pre>\n
Related Reading:  Cardano Development Activity Dropping \u2013 What Does It Mean For ADA Price?<\/a><\/div>\n
Specifically, on July 3, the chart indicates that 1,635 fresh wallet addresses were created. However, as of the time of writing, this number has plummeted by a staggering 47%, leaving only 863 new addresses being generated.<\/span><\/p>\n
<\/p>\n
Total market cap of cryptocurrencies at $1.15 trillion. Chart: TradingView.com<\/a><\/pre>\n
The decline in new user sign-ups is not the only cause for worry within the PEPE ecosystem. Another key metric, network growth, has also experienced a disappointing downturn. <\/span><\/p>\n
Related Reading:  Shiba Inu Market Cap Climbs By $500 Million \u2013 Is A Price Rally On The Horizon?<\/a><\/div>\n
These figures raise concerns about the overall health and vitality of the PEPE ecosystem. The decline in new user adoption and network growth may indicate a potential loss of interest or a lack of confidence in the project. <\/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 Jorge Garc\u00cda\/VW Pics\/Universal Images Group via Getty Images<\/span><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"
The price of PEPE coin has experienced a significant decline, plummeting over 60% since reaching its peak on May 5. This substantial downturn has dealt a heavy blow to optimistic investors who were aiming to capitalize on their impressive triple-digit profits from June.\u00a0 The latest insights from on-chain data suggest massive whale movement. In light of these developments, a pressing question arises: What lies ahead for the PEPE price, and what can be expected in the future? Trader Accumulates PEPE: A Long-Term Investment? Amidst the crypto community’s ongoing speculation, Lookonchain recently unveiled a noteworthy transaction involving trader “osf_rekt.” It appeared as though osf_rekt was making a conscious effort to maintain ownership of the assets as the user traded 141 Ethereum (ETH) for a staggering 173 billion units of the popular meme coin, PEPE. We noticed that @osf_rekt spent 141 $ETH ($265K) to buy 173B $PEPE again 16 hrs ago and transferred 690B $PEPE($1.05M) to a safe multisig wallet. He spent a total of 536 $ETH ($1.04M) to buy 613B $PEPE from June 14 to July 11, with an average buying price of $0.00000169. pic.twitter.com\/jDzdf0JVvu \u2014 Lookonchain (@lookonchain) July 12, 2023 What makes this transaction even more intriguing is that it was not the first instance of osf_rekt acquiring PEPE. This pattern of behavior by the trader using a pseudonym implies, in most cases, that they have a fundamental view that the cryptocurrency has positive prospects. Considering the widespread buzz surrounding PEPE, this accumulation of tokens by osf_rekt does not come as a surprise. However, it is worth noting that PEPE has experienced a recent decline in value. Over the past seven days alone, its value has depreciated by 14.7%, with a 24-hour slump of 2.8%, ultimately placing its current price at $0.00000150, as reported by CoinGecko. Source: Coingecko Declining User Adoption And Network Growth In addition, a PEPE price report notes that the meme coin has witnessed a concerning trend of dwindling user adoption. This is evident from the data provided by Santiment, which highlights a substantial decrease in the number of new users joining the PEPE network over the course of one week.\u00a0 Source: Santiment Related Reading: Cardano Development Activity Dropping \u2013 What Does It Mean For ADA Price? Specifically, on July 3, the chart indicates that 1,635 fresh wallet addresses were created. However, as of the time of writing, this number has plummeted by a staggering 47%, leaving only 863 new addresses being generated. Total market cap of cryptocurrencies at $1.15 trillion. Chart: TradingView.com The decline in new user sign-ups is not the only cause for worry within the PEPE ecosystem. Another key metric, network growth, has also experienced a disappointing downturn. Related Reading: Shiba Inu Market Cap Climbs By $500 Million \u2013 Is A Price Rally On The Horizon? These figures raise concerns about the overall health and vitality of the PEPE ecosystem. The decline in new user adoption and network growth may indicate a potential loss of interest or a lack of confidence in the project. (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 Jorge Garc\u00cda\/VW Pics\/Universal Images Group via Getty Images<\/p>\n","protected":false},"author":557,"featured_media":542538,"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":[1144,8686,83767,88215,4735],"class_list":["post-542526","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-ethusd","tag-meme-coins","tag-pepe-price","tag-price-action"],"acf":[],"yoast_head":"\nPEPE Price Drops More Than 60% From ATH: What Lies Ahead?<\/title>\n<meta name=\"description\" content=\"The price of PEPE coin has experienced a significant decline, plummeting over 60% since reaching its peak on May 5. 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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 Price Drops More Than 60% From ATH – What Lies Ahead?","url":"http:\/\/wncen.com\/news\/pepe-price-drops-more-than-60-from-ath-what-lies-ahead\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/pepe-price-drops-more-than-60-from-ath-what-lies-ahead\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-83.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/07\/a-83.png?fit=864%2C564"},"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":["btcusd","ethusd","meme coins","pepe price","price action"],"dateCreated":"2023-07-13T09:49:16Z","datePublished":"2023-07-13T09:49:16Z","dateModified":"2023-07-13T09:59:50Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"PEPE Price Drops More Than 60% From ATH – What Lies Ahead?\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/pepe-price-drops-more-than-60-from-ath-what-lies-ahead\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/pepe-price-drops-more-than-60-from-ath-what-lies-ahead\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-83.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/07\\\/a-83.png?fit=864%2C564\"},\"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\":[\"btcusd\",\"ethusd\",\"meme coins\",\"pepe price\",\"price action\"],\"dateCreated\":\"2023-07-13T09:49:16Z\",\"datePublished\":\"2023-07-13T09:49:16Z\",\"dateModified\":\"2023-07-13T09:59:50Z\"}<\/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\/07\/a-83.png?fit=864%2C564","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/542526"}],"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=542526"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/542526\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/542538"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=542526"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=542526"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=542526"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}