The drop of $PEPE last month was a sharp and unexpected move. Even having shown positive performance earlier, with gains of 418.28% in the last 30 days, Pepe lost up to 30% of its value.
What could have caused this drop?
There are some theories about what may have caused this drop. One is that Pepe was slightly overbought in May, which may have led to a price correction. Additionally, volatility is common in the cryptocurrency market, and sudden changes in market sentiment can affect prices.
Volatility in the cryptocurrency market
The cryptocurrency market is known for its volatility. Prices can fluctuate rapidly in response to changes in market sentiment, news, and global events. This can be a challenge for investors, but it can also create opportunities for those who are prepared.
Conclusion
The drop of Pepe was a reminder of the volatility of the cryptocurrency market. While it is impossible to predict with certainty what will happen next, it is important for investors to be prepared for sudden changes in the market.
