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The market valuation of Pepecoin (PEPE) has dropped by 65% as of May 12, a week after its record high of $1.54 billion.Profit-taking appears to be the primary reason behind the extreme price correction, after it rallied from almost nothing to as high as $0.00000372 after its launch on April
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One example of an early investor appearing to ditch PEPE is pseudonymous crypto trader “vxv.eth.” The wallet has accumulated 1.3 trillion tokens since its initial purchase on April 17, Nansen data shows. Early Thursday, the account transferred its PEPE stash worth $2.1 million to crypto exchanges Gemini and UniSwap, completely
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The crypto exchange set off a kerfuffle by describing the Pepe the Frog meme as having been co-opted as a hate symbol by alt-right groups. Original Source
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Larger market participants are buying up the meme coin even as prices dunk, suggesting another leg up might be on the cards soon. Original Source
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Some holders have turned pocket change into fortunes after getting into the very early stages of pepe. Original Source
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One trader infamously took on a 50% slippage for getting out of their pepe position. Source
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