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?
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PEPE Records Double-Digit Drop
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.
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 and the announcement of another Fed rate decrease. It’s important to remember that even PEPE’s setback represents a possible uptick.
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PEPE Price Prediction
According to recent data, Pepe Coin will rise 20% from its current price to a peak of $0.00001876 over the next couple of days. On December 22, the meme coin will record a 12.96% and trade at $0.00001763.
Amidst this, a whale poured in $2.72 million in 150 billion PEPE tokens to the cryptocurrency market Binance. It’s interesting to note that the whale had previously taken out the identical sum from the cryptocurrency exchange on November 28.
After the market drop, a whale deposited 150B $PEPE($2.72M) into #Binance to stop loss.
This whale withdrew 150B $PEPE($2.94M) and 60B $SHIB($1.52M) from #Binance on Nov 28.
At current prices, the whale is facing a loss of $219K on $PEPE and $136K on $SHIB.… pic.twitter.com/kGDa9K7Z7z
— Lookonchain (@lookonchain) December 19, 2024
The 150 billion PEPE was valued at $2.94 million. This data was recently brought to light by the prominent firm Lookonchain. It seems like the frog-themed cryptocurrency could see more whale activity as the price of the asset has dipped over the past day.
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