PEPE’s Price Responds Badly To Mysterious Frog Meme Posts

The Pepe (PEPE) community was left confused yet excited after the official PEPE X account posted a picture on the social media platform earlier today. The only thing included in the post was a picture of the frog character that inspired the meme coin, holding a green chart candle.

This latest post was just one of many that the team has posted over the past few days. In all of the pictures, the PEPE frog was watching the price of the token climb higher and higher. It seems like the team was attempting to create some excitement surrounding the cryptocurrency to push its price even higher.

However, this post from the PEPE team might not have had the desired impact on the meme coin’s price. Data from CoinMarketCap indicated that PEPE saw its price decrease by more than 2% in the past 24 hours.

This meant that the altcoin’s trading value dropped to $0.00000131 at press time. The token set a high price of $0.00000145 over the past day, but has since retraced to trade at its current level. PEPE did see a 119% rise in its 24 hour trading volume, which left it standing at $378.07 million, but this could likely be attributed to selling volume.

Throughout the past day, PEPE also ended up weakening against Bitcoin (BTC) by over 14%. On the other hand, despite its latest stumble, PEPE was still up by 24.98% in its weekly time frame. Meanwhile, PEPE’s price also climbed by about 108% in the past month.

The decline in the meme coin’s price also caused its market capitalization to drop to around $542.81 million. This meant that PEPE was ranked as the 77th largest cryptocurrency by market cap, placing it right on the heels of Trust Wallet Token (TWT) with its own market cap of $554,664,534.