DeFi News Today Official TheBitTimes.com

The entire cryptocurrency market was painted red over the past 24 hours. The meme coin market, in particular, took a massive hit. Assets like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe Coin (PEPE) took a backseat. PEPE recorded a new all-time high of $0.00002825 just eleven days ago. But now, the meme coin is trading 45% below its peak. Will the asset recover during the weekend and bring in gains for PEPE investors? Also Read: From $90 to $3.25M in Just 2 Days: Crypto Trader Racks Up 3.5M% Gain! PEPE Records Double-Digit Drop Source: CoinGape Over the past 24 hours, the meme coin recorded a massive downfall of 20%. At the time of writing, PEPE was trading at $0.00001544. The cryptocurrency was trading at a high of $0.00001960 earlier today. Source: CoinMarketCap The latest drop in the asset was related to the overall market downfall. The cryptocurrency market hit resistance levels and was seen taking a break from the recent spike in response to a difficult stretch for US stock markets...

Pepe Coin (PEPE) is one of the best-performing crypto projects in 2023. The token launched on April 16, and within its first few weeks, skyrocketed by over 6000%. However, the token has lost its hype and has since fallen on the charts as well. PEPE is down by 4.8% in the last 24 hours and by 16.1% in the last two weeks. Nonetheless, the token is still up by 353% in the last month. Pepe Coin (PEPE) being a memecoin is dependent on online word of mouth and meme culture to stay relevant. However, such tokens are susceptible to violent price swings. PEPE made a pretty big splash when it launched as it utilized the “Pepe the Frog” meme, and presented itself as a rival to Shiba Inu (SHIB) and Dogecoin (DOGE). Investors most likely were in i,t just for a quick buck. Moreover, even though there were big gains, the project was plagued by liquidity issues. This meant that very few people could cash out their profits. Nonetheless, the hype around the token eventually died out. Moreover, the pr...