PEPE crypto crashes 65% in two weeks: is the craze over?

A few weeks ago, Pepe Coin (PEPE) was the talk of the crypto corridors. Now, a few weeks later, things are looking a little less rosy for the memecoin. The price of PEPE has fallen sharply in the last two weeks: 65 percent to be precise. What is going on, and what can we expect in the coming weeks?

Why did PEPE drop?

Earlier this month, PEPE reached an all-time high of $1.8 billion in total market capitalization. That value now stands at about $665 million, a drop of 65 percent. It seems that the great owners of PEPE are responsible for the sharp decrease. The 15 addresses with the highest profit in PEPE tokens have all sold most of their tokens in the past two weeks. Some have even dumped all their tokens.

Furthermore, the trading volume has also taken a big hit, but that is no surprise. After the hype of a few weeks ago, a cooling down is very understandable. But will it stop there or will the price drop continue?

That can never be said with certainty, but an indicator that can point us in the right direction is the total number of PEPE owners. At the price peak, the number of token holders was about 100 thousand. In the meantime, despite the fall in prices, this number has risen to 115 thousand owners. An increase in owners while the share price falls is generally cause for optimism. However, it is never a guarantee for a price increase.

What will the PEPE price do?

However, Pepe is and remains a memecoin and these are characterized by their volatility and unpredictability. For the time being, PEPE seems to be cooling off after the huge rise of the past few weeks and that is fully understandable, but whether the recent craze will ever return remains to be seen.

It is also important to keep an eye on the macroeconomic situation. Crypto markets are extremely volatile and are generally influenced by external situations. For example, we saw that the crypto markets rose nicely at the beginning of this year during the news about a rattling US banking sector.

Conversely, however, it can also go quickly. Should negative macroeconomic news suddenly appear, financial markets, especially crypto, can fall very quickly. So always make a calculated choice when investing in crypto. Especially when it comes to unpredictable and volatile memecoins.

We also asked our followers on Twitter what the price of PEPE will do. What do you think? Will the price go down or up? Let us know in the poll below!

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