Pepe hit its all-time high on May 27, 2024, but slightly dropped its price to almost 12% (0.00001472), making a deep correction. Even after a drop in its price, its trading volume increased dramatically by almost 216%, showing the interest of traders in this token.
The trading volume of Pepe is three times higher than at the start of the month, even after facing a price drop, as it hit its all-time high on May 27.
The trading price of Pepe on May 5 was $0.000008834, with the trading volume standing at $783.17 million. Since then, it gained 94% to reach its all-time high on May 27; however, it slipped from that price, and right now it is trading for $0.00001474.
Pepe is up by 5.96% over the past 7 days Source: CoinMarketCap
Some of the Crypto analysts predicted that Pepe is now the center of attention among all meme coins. Others are still confused by the sudden fall in price after making a new record in price.
“Pepe is pulling back so the rest of the meme coin market is too. Pepe is the meme leader right now,” Nebraskangooner posted on X on May 30.
In the same three days when Pepe experienced a price drop, two big meme coins by market cap, SHIB, and DOGE, also experienced a significant price drop.
Dogecoin experienced a drop of 6% and is now trading at $0.1601, and SHIB fell by almost 8% to $0.00002594 as per CoinMarketCap data.
Michael Pizzino predicted that this short-term high should be considered a warning if Pepe is unable to maintain this level again.
“Pepe is technically in the strongest position in terms of price, but… If the next rally fails to print a new high, look out,” Michael Pizzino posed on X.
While Pepe’s price declined, attracting more investors to participate in trade, it is up by 8.5% from yesterday; however, SHIB is 1.5% down and DOGE is up by 0.5%.
Pepe launched in May 2023, making its trading positive by 25,955% in just a year, from Jan 1 until now, the growth witnessed is 1,042%.
