3 signs PEPE token is about to trap bulls after 2,000% price rally
PEPE price risks losing 20% in May due to shaky technicals, waning retail interest, and too many risks of market manipulation. New meme-coin Pepe (PEPE) has entered a sharp correction phase after surging by more than 2,000% since its debut a few weeks ago. On May 3, the PEPE price dropped to $0.00000089, down about 35% from its record high of $0.00000138 established two days ago. As a result of the correction, its market capitalization slipped by nearly $80 million, thus pushing it out of the top-100 top cryptocurrency index. Pepe price performance since market debut. Source: CoinGecko A mix of technical and fundamental indicators hint at further downside for PEPE price . Retail interest falls PEPE's daily trading volumes declined across centralized (CEX) and decentralized exchanges (DEX) as price s fell. The same happened to the Google trends for the keyword "Pepe Coin," whose score is down from 100 to 7 in a day, suggesting that the retail hype has subsided in the pa...