{"id":3142,"date":"2023-12-26T07:57:01","date_gmt":"2023-12-26T07:57:01","guid":{"rendered":"https:\/\/ethereumcode.io\/frog-crypto-token-pepe-falls-fifth\/"},"modified":"2023-12-26T07:57:01","modified_gmt":"2023-12-26T07:57:01","slug":"frog-crypto-token-pepe-falls-fifth","status":"publish","type":"post","link":"https:\/\/ethereumcode.io\/frog-crypto-token-pepe-falls-fifth\/","title":{"rendered":"Frog-Themed Crypto Token PEPE Slips to Fifth Position Amid Rising Dog-Influenced Rivals"},"content":{"rendered":"
Amidst the raging competition of meme coins, characterized by their unique and often humorous themes, PEPE, which once enjoyed a commendable position in the market, has recently seen a slump. In the face of potent contenders, the meme token based on the once-popular internet figure Pepe the Frog, has slid from its previous third position to a rather disappointing fifth place in terms of market capitalization. Though PEPE saw an impressive increase of 29% in just the last month, the past six months reveal an overall decline of about 8% in its value.<\/p>\n
As we delve into the details, the scenario for PEPE appears quite gloomy. As of December 24, 2023, two relatively nouveau tokens, CORGIAI and BONK, have ascended to the fourth and third positions in the world of meme tokens. Notably, these top four meme tokens all share a dog-based thematic branding, leaving the frog-themed PEPE in a complex contest.<\/p>\n
Marking PEPE’s market capitalization at $582 million, and comparing it to CORGIAI’s rather hefty figure of $719 million, PEPE’s position seems significantly overshadowed. Furthermore, PEPE had its fair share of challenges in August. Following the accusation of former team members misusing $15 million worth of coins, PEPE’s credibility and subsequently, its price, took quite a beating.<\/p>\n
While all this sounds a bit distressing, it is important to recognize that PEPE successfully recorded an overwhelming increase of more than 2,400% after reaching its all-time low in April 2023. Similarly, we cannot forget that despite facing a drop of more than 67% post its peak in May 2023, a staggering 420 trillion PEPE tokens are still in circulation.<\/p>\n
In light of these figures, it might be upsetting to know that the top ten holders control nearly 43% of the circulating supply, and the top 20 wallets account for about 51% of the total supply. This limited distribution trend continues with the top 50 holders controlling over 64% of PEPE\u2019s circulating coins, and the top 100 wallets possessing over 70% of circulating PEPE tokens.<\/p>\n
The token nevertheless perseveres, recording over 2 million transactions on etherscan.io and a 24-hour trading volume of $102.75 million. The most vigorous trading activity has occurred on the MEXC exchange, with USDT consistently emerging as the favored trading pair for PEPE.<\/p>\n
It’s clear that the crypto market is a realm of relentless fluctuation, and the fate of PEPE continues to flicker in this wind of uncertainty. In such a dynamic landscape, meme coins can very quickly rise to prominence, only to fade into insignificance with equal speed. PEPE’s journey epitomizes the capricious currents of the digital currency world.<\/p>\n