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The Pepe price dropped by 5% in the past 24 hours to trade at $0.000001177 as of 7 a.m. EST in a correction following a previous surge to $0.00000144 on November 9.
With no clear catalyst for the pullback, experts believe it may have happened due to profit-taking rather than any fundamental information.
Why Did The PEPE Price Dip?
The pullback, sharp as it was, does not seemingly have a clear catalyst. As a result, experts have concluded that it simply came as a consequence of profit-taking.
Simply put, the token’s price surged, and PEPE holders started selling to make some money from the opportunity, causing the price to take a sharp U-turn as the supply suddenly flooded the market.
On the technical side, PEPE’s value climbed up to an essential resistance at around $0.00000142, which also posed an issue in August when the token was rejected around this same level.
As The PEPE Price Dives, The Meme Kombat Presale Thrives
Pepe’s recent price drop may be bad news for its holders, but many interested in buying meme coins have other opportunities to explore.
One of the most popular ones right now is Meme Kombat (MK) — a project that aims to combine the popularity of memes with the thrill and excitement of betting and staking.
Web3 titans will face off. An excellent chance for @pepecoineth and @pepe2coineth followers to show up for their communities 👊
Join us in the arena in #MemeKombat pic.twitter.com/eJiRnP8A3q
— Meme Kombat (@Meme_Kombat) October 7, 2023
The project has created an innovative platform for gaming enthusiasts who love a good bet. It rewards its members with benefits of all kinds and lets them engage in passive staking or active betting.
So far, its presale has been highly successful and popular, allowing the project to raise $1.62 million in only a few weeks. Its token, MK, currently sells for $0.189 and can be obtained in exchange for ETH and USDT.
In about three days, Meme Kombat will see a price increase, so those who wish to buy before that happens have a short window of opportunity to make their move.
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