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Pepeto is gaining traction as a standout meme coin, combining a compelling narrative with smart features and positioning itself as a major player in the evolving crypto landscape.
After celebrating levels above $100,000 for many days, Bitcoin price has fallen. As the Fed’s recent statement led to a token sell-off, the entire crypto market is in the red. Pepe, the world’s third-largest cryptocurrency by market capitalization, has fallen more than 16% in a month, with most of the decline coming since last week.
Will Pepe make a comeback or should investors focus on alternative investments?
Unfavorable market conditions cause the Pepe price to fall
While the third quarter of 2024 proved to be beneficial for the crypto market, especially since Bitcoin’s rise above $100,000 pushed other meme coins like Pepe to new highs, Pepe started trading in the red in recent days.
Since December 9th, the Pepe price has fallen by more than 43%. The trading price is currently around $0.000016 and the market capitalization is more than $7.11 billion.
Why does Pepe fall?
Pepe’s recent decline was the result of unfavorable market conditions, triggered by the Fed’s prospect of fewer interest rate cuts in 2025. Another reason for the market’s downward trend was that Jerome Powell, the chairman of the Federal Reserve, shut down all rumors about a possible Bitcoin -Reserve scattered.
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