Pepecoin in Trouble: Analyst Warns of 40% PEPE Price Plunge

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The Pepe (PEPE) meme coin has experienced a significant decline in its daily trading volume over the past few weeks, coinciding with a series of unfavorable developments. Pepe’s price traded at approximately $0.000000669, It has declined by more than 6.5 percent in the past 24 hours, resulting in a total loss of over 49 percent of its value at the time of this report.

Pepe’s Recent Challenges:

Late last month, the Pepe coin network faced an internal dispute among its core developers, leading to a faction of the team siphoning off more than $10 million worth of PEPE tokens. Consequently, many early investors in Pepe decided to withdraw their investments, causing a significant reduction in the liquidity of this fledgling meme coin.

Over the weekend, the Pepe coin community experienced another network attack that resulted in the hacking of some of its social media accounts. The attacker subsequently utilized these compromised accounts to promote fraudulent schemes.

PEPE Price Analysis:

In the wake of these recent negative events, Pepe coin continued its downward trend on Monday. According to a well-known digital asset analyst, Crypto Kaleo, the leading frog-themed meme coin is poised for further correction in the coming days.

The analyst anticipates that Pepe coin may drop by an additional 43 percent, reaching a trading price of approximately $0.00000038. Furthermore, the meme coin has already broken below a critical multi-week support level.