$PEPE comes closer to 30-day low, showing awful price performance, as expected for a short-lived meme coin
one of the shortest lived digital assets in the history of the cryptocurrency market. It had nearly reached the top 10 in terms of market capitalization at its peak, a remarkable feat for such a new coin.
Furthermore, PEPE's trading volume is showing a significant downturn, with a decline of over 90%. The dwindling trading volume combined with substantial sell-offs suggests bearish sentiment among PEPE holders. This trend implies that the coin is facing considerable headwinds that might result in further depreciation.
While the fall in price and trading volume might be disheartening for PEPE enthusiasts, it is worth noting that the volatile and unpredictable nature of meme coins makes them highly susceptible to such dramatic swings. Meme coins often ride on hype and sentiment, and when that fades, a downward price correction often follows, which is exactly what happened with Shiba Inu.
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