The price of Pepe ($PEPE), the third largest meme coin on the market and the biggest in the non-doge category has crashed 9.5% overnight, posting the largest losses among the sector’s big three.
At $PEPE’s current price of $0.000007301, it’s about 15.4% down from its price seven days ago.
This makes for larger intraday and intra-week losses than market leader Dogecoin ($DOGE) and its number one contender, Shiba Inu ($SHIB).
In comparison, $DOGE fell 4.5% overnight and 4.6% over the week to trade at $0.1001 as of this writing.
$SHIB posted a 3.8% loss on the day and a 5.5% loss on the week to hit a current price of $0.00001326.
If $PEPE continues to fall down past its one-month low of $0.00000603 posted on August 5, the $3 billion market cap meme coin may face some stiff competition for a flipping by its $1.5 billion cap rival DogWifHat ($WIF), although the latter is also crashing today—$WIF is currently down 12% overnight and 24% over the week.
$PEPE Recent Price Analysis
For the last three months of trading, $PEPE has faced stiff resistance around $0.0000135, and lost the crucial $0.00001 footing at the end of last week. Support has been falling for the token.
The drop-off was catalyzed by a heavy market crash on Monday August 5 as macro-economic uncertainty gripped the world amid a heavy asset sell-off and growing fears about the potential for wider conflict in the Middle East.
With a relative strength index (RSI) of 34 and falling, $PEPE is now oversold and trading slightly below its 30-day moving average. Investors should be aware of the possibility of a further selloff and more losses over the weekend, although at the time of writing, $PEPE advanced 1.4% within an hour.
As Pepe Crashes, Crypto All-Stars Enjoys $458,000 Launch
As a low-utility meme coin, Pepe’s price typically exaggerates the performance of market leaders Bitcoin and Ethereum.
However, investors who want to support the growing meme coin industry should be aware that several meme coin projects that are still only in pre-sale are bringing new utility into the flourishing sector. One new project that is pioneering a unified staking protocol for meme coin fans is Crypto All-Stars, represented by the $STARS token.
Crypto-All Stars is a revolutionary staking platform that brings together the most celebrated meme coins in one place.
Holders of Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin can stake them on the platform and earn passive income in the form of $STARS with a rewards rate currently set at 4,463%.
The team has allocated 20% of the tokens for its presale. The other 25% is for presale staking, 20% for marketing, 10% CEX/DEX listing, and the rest 25% for the MemeVault Ecosystem.
This new meme coin project has gained so much popularity that its presale has already raised $458,000 since its launch at the beginning of the week.
Following the purchase, you can begin staking for rewards and claim the tokens once the presale ends.
So, if you are a meme coin holder who wishes to put your money to work, Crypto All-Stars is worth a look-in. Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
Follow them on social media – X (Twitter) | Telegram to stay up-to-date on all their development plans.
Join the Presale Here
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