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Monday, February 26, 2024

Pepe Memecoin Continues to Follow Price Decline

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Pepe

  • Pepe coin witnessing a downfall in price, post the Coinbase controversy.
  • Coinbase’s damage control involves apologies from the legal spokesperson.

Pepe, the frog-themed memecoin is witnessing a downfall in price as well as in token holders. Post the controversy between the Coinbase exchange and Pepe coin, this is a sink for the token’s fame.

PEPE Price Chart (Source: CMC)

In earlier weeks, the token stood out among the alt and memecoin community, for establishing high standards. Which includes being listed by the Binance exchange, gaining a position in the top 100 cryptocurrency list, and skyrocketing in trading price. The situation has turned upside down now.

Despite the damage control strategies by Coinbase and Pepe, the effect of the statement “Hate Symbol” is still there. Coinbase’s damage control involves the apologies submitted via their legal spokesperson. Whereas, Pepecoin continues to post tweets on spreading love.

$PEPE is a symbol of love, unity, positivity, and freedom. We are all Pepe. A sigil that connects us all across the internet. pic.twitter.com/qGdkhwH6Ju

— Pepe (@pepecoineth) May 11, 2023

Coming to the trading movements in the crypto market, PEPE coin’s RSI is over 30, signaling to oversell. The dump of the token is creating fear among the loyal holders, as the RSI indicates 33.53. The token price has been declining for the last 5 days, and the current price is $0.000001177 with a 38.84% drop.

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