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Pepecoin Drops Nearly 50% From Highs as Traders Likely Taking Profits for Ether

Pepecoin (PEPE) holders may be taking profits on their positions following one of the most spectacular rises in the history of alternative currencies (altcoins) with an almost 5,000,000% rise in the past few weeks. The tokens are down by 45% after setting a peak of $0.00000431 on Friday, reaching a market capitalization of $1.8 billion just over three weeks since issuance in mid-April. This price drop was likely to intensify by traders taking profits on their positions or utilizing advanced trading strategies following the introduction of several pepe-tracked futures in the past week.

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