{"id":431057,"date":"2023-08-18T13:41:23","date_gmt":"2023-08-18T13:41:23","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=431057"},"modified":"2023-08-18T13:41:32","modified_gmt":"2023-08-18T13:41:32","slug":"pepe-price-prediction-pepe-plunges-12-is-recovery-on-the-horizon","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/pepe-price-prediction-pepe-plunges-12-is-recovery-on-the-horizon","title":{"rendered":"Pepe Price Prediction: PEPE Plunges 12% \u2013 Is Recovery on the Horizon?"},"content":{"rendered":"

Pepe’s price slipped 12%, moving from the intra-day high of $0.00000123 recorded on August 17 to close the day at $0.00000107. When writing, the meme coin auctions for $0.00000111, indicating a daily drop of $7%. However, the trading volume for the altcoin is up a stark 40%, suggesting bulls are coming to the arena. Seemingly, recovery may be on the Horizon.<\/p>\n\n\n\n

Why Pepe Price May Be Due For A Rally<\/h2>\n\n\n\n

The potential rally for Pepe price follows the recent event in the meme coin market, Shibarium. The Ethereum Layer-2 chain launched on August 17, spearheaded by the Shiba Inu<\/a> team. This solution aims to provide cheaper and faster transactions using SHIB as the fee token. Ahead of the launch, the number of new addresses increased exponentially, translating to an 84% rise in network growth.<\/p>\n\n\n\n

However, the bubble burst for the meme coin community after $1.7 million worth of Ethereum (ETH<\/a>) was stuck in the bridge.<\/p>\n\n\n\n

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#PeckShieldAlert<\/a> #Shibariumbridge<\/a> https:\/\/t.co\/8VyzqRug0G<\/a><\/p>— PeckShieldAlert (@PeckShieldAlert) August 17, 2023<\/a><\/blockquote>