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3 signs PEPE token is about to trap bulls after 2,000% price rally

Published 05/03/2023, 11:11 AM
Updated 05/03/2023, 01:00 PM
© Reuters.
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New meme-coin Pepe (PEPE) has entered a sharp correction phase after surging by more than 2,000% since its debut a few weeks ago.

On May 3, the PEPE price dropped to $0.00000089, down about 35% from its record high of $0.00000138 established two days ago. As a result of the correction, its market capitalization slipped by nearly $80 million, thus pushing it out of the top-100 top cryptocurrency index.

Pepe price performance since market debut. Source: CoinGecko
Interest rate for the keyword Pepe Coin. Source: Google (NASDAQ:GOOGL) Trends
Top PEPE distribution. Source: CoinCarp.com
PEPE buying and selling schematic. Source: Lookonchain

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