In the past seven days, Pepe (PEPE) holders have seen a 24% decrease in their bags as meme coins have suffered some of the worst losses during a market-wide decline.
As of April 17, 2024, early in the morning (UTC), PEPE is trading at $0.0553.
Similar 7-day declines were seen by other popular meme coins, such as Dogecoin (DOGE) and Shiba Inu (SHIB), which decreased by 16% and 18%, respectively, during the same time frame.
Although not as much as the meme coins, market leaders Ethereum (ETH) and Bitcoin (BTC) also had declines during this time. With the majority of its losses occurred over the weekend, Bitcoin has lost 8% of its value this week, trading at $63,458.
March sparked a surge that peaked in mid-March with Pepe hitting a new all-time high (ATH) of $0.00001064, similar to many other top coins. The current price reflects a roughly 50% decline, although it looks as though the losses have abated in advance of Saturday's halving of Bitcoin.
This 4/20, load up on meme coins with SLOTH and PEPE
Following the halving of Bitcoin on April 20, the industry is bracing itself for a bull run.
Analysts predict that this time will not be any different from the previous three halvings. This is due to the fact that halving BTC mining payouts results in a halves of new Bitcoin issuance. Prices rise in areas where supply is constrained.
On Saturday, however, meme currencies will outperform all other cryptocurrency categories because the halving comes on April 20, also known as International Stoner Day, which is another factor driving the price of some projects.
Owners of dog coins should anticipate a boost on that day as well, since the Dogecoin community chose 4/20 to honor their preferred coin. On April 20, it is more difficult to predict what would happen to PEPE holders.
For the brand-new Solana meme coin Slothana (SLOTH), such isn't the case. Slothana is one among the biggest admirers of 4/20, evident in everything from the wall clock to his satisfied smirk and burned red eyes.
Traders have invested well over $10 million in his initial coin offering (ICO) in just three weeks, hoping to reclaim some of the early upside potential of recently successful Solana meme coins such as DogWifHat, Bonk, and Slerfs.
April 2024, Cryptoniteuae