{"id":3082,"date":"2023-05-09T11:00:12","date_gmt":"2023-05-09T11:00:12","guid":{"rendered":"https:\/\/digitalcoinprice.com\/blog\/?p=3082"},"modified":"2023-05-11T11:45:03","modified_gmt":"2023-05-11T11:45:03","slug":"pepes-chart-turned-red-have-we-seen-the-end-of-pepes-hype","status":"publish","type":"post","link":"https:\/\/digitalcoinprice.com\/blog\/pepes-chart-turned-red-have-we-seen-the-end-of-pepes-hype","title":{"rendered":"Pepe&#8217;s chart turned red &#8211; have we seen the end of pepe&#8217;s hype?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_73 counter-flat ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #223c50;color:#223c50\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #223c50;color:#223c50\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/digitalcoinprice.com\/blog\/pepes-chart-turned-red-have-we-seen-the-end-of-pepes-hype\/#The_number_of_whales_has_increased_dramatically\" title=\"The number of whales has increased dramatically\">The number of whales has increased dramatically<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/digitalcoinprice.com\/blog\/pepes-chart-turned-red-have-we-seen-the-end-of-pepes-hype\/#PEPEs_price_declines_consequences\" title=\"PEPE&#8217;s price decline&#8217;s consequences\">PEPE&#8217;s price decline&#8217;s consequences<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/digitalcoinprice.com\/blog\/pepes-chart-turned-red-have-we-seen-the-end-of-pepes-hype\/#PEPE_is_down_in_the_market\" title=\"PEPE is down in the market\">PEPE is down in the market<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/digitalcoinprice.com\/blog\/pepes-chart-turned-red-have-we-seen-the-end-of-pepes-hype\/#Dogecoin_DOGE_and_Shiba_Inu_SHIB_struggle_to_remain_stable\" title=\"Dogecoin (DOGE) and Shiba Inu (SHIB) struggle to remain stable\">Dogecoin (DOGE) and Shiba Inu (SHIB) struggle to remain stable<\/a><\/li><\/ul><\/nav><\/div>\n<p>During the past 24 hours, Pepe&#8217;s price has declined more than 10%. As a result of bearish market indicators, prices continue to fall.<\/p>\n<p>In recent months, PEPE&#8217;s supply on exchanges has increased while its supply outside exchanges has decreased. Although social volume continued to rise, it remained high.<\/p>\n<p class=\"blog-post-sec-title\"><a href=\"https:\/\/digitalcoinprice.com\/compare\" target=\"_blank\" rel=\"noopener\">Compare PEPE<\/a> with <a href=\"https:\/\/digitalcoinprice.com\/compare\" target=\"_blank\" rel=\"noopener\">DOGE<\/a>, <a href=\"https:\/\/digitalcoinprice.com\/compare\" target=\"_blank\" rel=\"noopener\">SHIB<\/a>, or any other <a href=\"https:\/\/digitalcoinprice.com\/\" target=\"_blank\" rel=\"noopener\">Cryptocurrency<\/a> to understand the trend.<\/p>\n<p><a href=\"https:\/\/digitalcoinprice.com\/coins\/pepe\" target=\"_blank\" rel=\"noopener\">Pepe [PEPE]<\/a>, the most popular meme coin, has turned red. PEPE&#8217;s price has fallen by over 10%, according to CoinMarketCap, in the past 24 hours. At the time of writing, a little over $1 billion worth of market capitalization was represented by $0.000002557. Pepe&#8217;s meme coin. Does hype come to an end?<\/p>\n<h1><span class=\"ez-toc-section\" id=\"The_number_of_whales_has_increased_dramatically\"><\/span>The number of whales has increased dramatically<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p>Several whales were accumulating PEPE while the meme coin&#8217;s price was rising. Among the purchases made by A Whale on Lookonchain, worth $2.46 million at press time, are 962.3 billion PEPE. Averaging $0.000003122 for each purchase, he bought 70 <a href=\"https:\/\/digitalcoinprice.com\/coins\/wrapped-bitcoin\" target=\"_blank\" rel=\"noopener\">WBTC<\/a> (Wrapped bitcoin) and 470 <a href=\"https:\/\/digitalcoinprice.com\/coins\/ethereum\" target=\"_blank\" rel=\"noopener\">ETH<\/a> over the past two days.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">A whale bought 962.3B <a href=\"https:\/\/twitter.com\/search?q=%24PEPE&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$PEPE<\/a>($2.46M currently) with 70 <a href=\"https:\/\/twitter.com\/search?q=%24WBTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$WBTC<\/a> ($2.07M) and 470 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$ETH<\/a> ($937K) in the past 2 days, with an average buying price of $0.000003122.<\/p>\n<p>He has lost ~$541K at the current price!<a href=\"https:\/\/t.co\/GDBdXcVyGt\" target=\"_blank\">https:\/\/t.co\/GDBdXcVyGt<\/a> <a href=\"https:\/\/t.co\/7s1Ns90OOc\" target=\"_blank\">pic.twitter.com\/7s1Ns90OOc<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1655083589967683584?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">May 7, 2023<\/a><\/p><\/blockquote>\n<p>As well as its social performance, PEPE&#8217;s performance on the ground was commendable at that time. Observations from the Sentiments chart showed PEPE&#8217;s social volume to be high. Memecoin mentions were likely to be bullish due to the spike in sentiment.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3039 size-full\" src=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-1.png\" alt=\"PEPE Token\" width=\"2560\" height=\"867\" srcset=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-1.png 2560w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-1-480x163.png 480w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-1-1024x347.png 1024w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-1-768x260.png 768w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-1-1536x520.png 1536w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-1-2048x694.png 2048w\" sizes=\"auto, (max-width: 2560px) 100vw, 2560px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"PEPEs_price_declines_consequences\"><\/span>PEPE&#8217;s price decline&#8217;s consequences<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The whales may have changed their minds due to the decline in prices. During that period, Santion&#8217;s chart revealed the number of whale transactions had increased, indicating more sales of whales. Over the last 24 hours, PEPE has seen a considerable increase in <a href=\"https:\/\/digitalcoinprice.com\/coins\/pepe\/exchanges\" target=\"_blank\" rel=\"noopener\">supply on exchanges.<\/a><\/p>\n<p>Further evidence that meme coin was under selling pressure came from a decline in supply outside of exchanges. While the meme coin&#8217;s price fell, its trading volume declined.<\/p>\n<p class=\"blog-post-sec-title\">How much does <a href=\"https:\/\/digitalcoinprice.com\/converter\/pepe\/usd\/1000\" target=\"_blank\" rel=\"noopener\">1000 PEPE currently cost in USD?<\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"PEPE_is_down_in_the_market\"><\/span>PEPE is down in the market<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>According to PEPE&#8217;s four-hour chart, sellers were ahead of buyers. RSI (Relative Strength Index) for Memecoin declined to zero over the past few days. The bank&#8217;s Money Flow Index (MFI) also declined per the same trend.<\/p>\n<p style=\"text-align: center;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-3040 size-full\" src=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-Token.png\" alt=\"PEPE Token\" width=\"1814\" height=\"778\" srcset=\"https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-Token.png 1814w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-Token-480x206.png 480w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-Token-1024x439.png 1024w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-Token-768x329.png 768w, https:\/\/digitalcoinprice.com\/blog\/wp-content\/uploads\/2023\/05\/PEPE-Token-1536x659.png 1536w\" sizes=\"auto, (max-width: 1814px) 100vw, 1814px\" \/><\/p>\n<p>As PEPE&#8217;s price entered a less volatile zone, Bollinger Bands indicated it was becoming less volatile. As a result, there is little chance of an unexpected breakout northward anytime soon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Dogecoin_DOGE_and_Shiba_Inu_SHIB_struggle_to_remain_stable\"><\/span>Dogecoin (DOGE) and Shiba Inu (SHIB) struggle to remain stable<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Which scenario will likely be determined in the next 24 hours? The unofficial Meme Coin season is led by PEPE, which has gained 980% in 12 days. A high of $0.00000148 was reached on May 1.<\/p>\n<p class=\"blog-post-sec-title\"><a href=\"https:\/\/digitalcoinprice.com\/converter\/pepe\/usd\/1000\" target=\"_blank\" rel=\"noopener\">Here is PEPE&#8217;s price prediction.<\/a><\/p>\n<p>Dogecoin [DOGE] and Shiba Inu [SHIB] were also affected by PEPE&#8217;s decline in price.<\/p>\n<p>They declined by 1.4% and 3.6% over the past 24 hours. During this article, DOGE was valued at $0.000009414, while SHIB was valued at $0.07755.<\/p>\n<p class=\"blog-post-sec-title\"><b>Also Read:<\/b><a href=\"https:\/\/digitalcoinprice.com\/blog\/best-crypto-to-buy-now-top-picks\" target=\"_blank\" rel=\"noopener\"> Can Dogecoin (DOGE) and Shiba Inu (SHIB) catch PEPE&#8217;s trend?<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>During the past 24 hours, Pepe&#8217;s price has declined more than 10%. As a result of bearish market indicators, prices continue to fall. In recent months, PEPE&#8217;s supply on exchanges has increased while its supply outside exchanges has decreased. Although social volume continued to rise, it remained high. Compare PEPE with DOGE, SHIB, or any [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":3038,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[48,47,52],"class_list":["post-3082","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news-updates","tag-doge","tag-pepe","tag-shib"],"_links":{"self":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/3082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/comments?post=3082"}],"version-history":[{"count":13,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/3082\/revisions"}],"predecessor-version":[{"id":3119,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/posts\/3082\/revisions\/3119"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media\/3038"}],"wp:attachment":[{"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/media?parent=3082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/categories?post=3082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/digitalcoinprice.com\/blog\/wp-json\/wp\/v2\/tags?post=3082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}