Pepe Memecoin Fell 38%

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Last Updated on May 7, 2023 by Bitfinsider

Pepe plummeted for a second day on Sunday, as the crypto coin based on the Pepe the Frog cartoon meme cost at least one investor $500,000.

According to Coingecko data, Pepe is currently trading at $0.00000259. On Friday, the price reached $0.00000420, which may or may not be tied to the weed-related 4:20 meme.

At least one large trader has suffered paper losses as a result of the decline. On Sunday, the statistics firm Lookonchain reported that a so-called whale purchased 962.3 billion PEPE for an average price of $0.000003122. At the current exchange rate, that trade is approximately $500,000 in the red.

Pepe has suddenly exploded into the minds of cryptocurrency traders, with trading volume hitting $250 million in 24 hours last week – more than Dogecoin and Shiba Inu combined. On-chain data suggest that those trading the token on Uniswap had wasted more than $10 million in Ethereum transaction fees in the last three weeks.

How to buy or trade PEPE on ProEX

You can buy or trade PEPE on ProEX. As ProEX frequently holds campaigns and events, you should check out its event page here to see if you can participate and win rewards as you trade.

On ProEX, you can trade PEPE as a spot pair (PEPE/USDT) in 3 simple steps:

  1. Sign up and register an account on ProEX 
  2. Buy USDT via ProEX One-click Buy 
  3. Trade PEPE/USDT at ProEX Spot

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Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.