PEPE Bleeds Out as Meme Coin Momentum Fades – Is the Bottom In or Just Beginning?
The price of the third biggest meme coin Pepe ($PEPE) is trending downwards as the asset takes an 8% hit in 7 days, currently trading at $0.000007034.
However, in the last 24 hours, Pepe has retained its value better than most of its peers among the best meme coins.
The market leader, Dogecoin ($DOGE), with a market cap of $24.3 billion, dropped 3.3% in the last 24 hours and around 7% over the last seven days. Shiba Inu ($SHIB), its biggest rival with a market cap of $7.1 billion, mirrored this drop, declining 3.5% on the day and around 7.3% on the week.
The collective market capitalization of the meme coin sector fell 3% overnight and now stands at $49.9 billion.
This decline is indicative of wider market movements. The entire crypto market fell 3.9% overnight, reaching $2.74 trillion.
Pepe Price Analysis – Where is PEPE Heading Next?
The Ethereum-based Pepe ($PEPE) was launched in April 2023 and has since become the industry’s third-biggest meme coin and its biggest non-doge meme asset, with a market cap of just over $2.95 billion.
Originally inspired by the character in Max Furie’s webcomic Boy’s Club, the Pepe avatar gained viral popularity and even became a political statement during the Hong Kong protests in 2019.
Despite facing increasing competition from US President Donald Trump’s official $TRUMP meme coin, which has a $2 billion market cap, Pepe is currently closely following Dogecoin’s movements, which in turn are tracking Bitcoin’s. Significant deviation is unlikely unless Pepe gains more utility.
Pepe briefly rose to a March high of $0.000009 on March 26, but it has since experienced a selloff that has decreased its value by 22% in the last five days.
The token’s relative strength index (RSI) is 47 and rising, after briefly falling below 30 over the weekend. This indicates the end of the selloff as people buy back in, making this moment the end of the dip and a good entry point for Pepe believers.
Meme Coin Fans Raise $7 Million for MIND of Pepe’s AI Agent
Despite Pepe’s downturn, one Pepe-themed meme coin is attracting significant investment by redefining the meme coin concept.
Introducing MIND of Pepe ($MIND), an advanced AI Agent that provides real utility, rewards, and actionable trading insights.
This groundbreaking project equips $MIND holders with AI-powered market analytics, predictive insights, and investment strategies gathered from social media through its automated Telegram and X accounts.
The project’s ultimate goal is to create a robust AI oracle that serves its community with a combination of entertainment and functionality.
MIND of Pepe is quickly gaining traction, with investments exceeding $500,000 within 24 hours of its launch and raising over $7.7 million so far.
Investors are drawn to MIND of Pepe due to its first-mover status as one of the first meme coin AI Agents and its high staking yield during the presale period, currently offering returns as high as 290% APY (although this is variable and declines as more people stake).
As AI revolutionizes every sector, MIND of Pepe positions itself at the intersection of innovation and meme coin culture.
Stay connected with MIND of Pepe on X and Telegram.