- Pepe is currently at $0.0000007053, which was lower than the price before listing on Binance.
- The current market situation is one of the major factors behind the decrease.
The Pepe token was one of the biggest meme coins of 2023. However, the price is down and is even less than what it was before the Binance listing.
Pepe Token Hits New Lows Since Binance Listing
- Before the sudden dip in price, the Pepe token was the next big thing in the crypto industry. It had all the hype, and many investors wanted to put all their money in the Pepe token. However, all these are gone as the token lost value. At least the value before the listing on Binance.
- Immediately after the Binance Listing on May 5, 2023, PEPE surged to an all-time high of $0.00000439. However, there was a drop in price to $0.00000082 when Bitcoin price went down on June 15th. But after this particular drop, the token made a fantastic comeback. There was a massive entry to the $0.0000019 price range by July 13th. So, after this particular price increase, the Pepe token isn’t showing any signs of making price progress. The token is going down steadily in price. And it is even now less than the price before the Binance listing. In fact, the Pepe token is now in price ranges that many would see as appalling. At the time of writing, Pepe’s price is within the $0.0000007053 price range, which may go down further in price.
Why is Pepe Falling in Price?
- Many things contribute to the spiral fall Pepe is experiencing in the market. In the general market, many things don’t seem right, too. Furthermore, many altcoins and memecoins in the crypto market are falling in price. Even Bitcoin isn’t finding it easy, as the price is also going down. Factors like this are one of the things causing the price of Pepe to fall. Moreover, a significant event occurred on the Ethereum network.
- The Pepe token lives on the Ethereum network. So, anything that happens there has many effects on the price. There was a compromise on the Twitter (now X) account of Ethereum co-founder Vitalik Buterin. So, the hacker behind this attack posted some malicious links to the account, making many people lose their money. This is having a negative effect on many Ethereum tokens, including Pepe tokens.
What Next For the Pepe Token?
- The Pepe token will need another round of good news to recover. Since it is a meme coin, they mostly rely on hype and good news to make any positive price movements. So, something like a whale buying large amounts of Pepe tokens or an endorsement will lead to a price increase.
- In conclusion, Pepe recently had the price go down to levels before their Binance listing. However, this isn’t good for the meme coin. A lot will need to happen in the crypto market for the meme coin to recover.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from CryptoNewsBytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company
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