Canine-filled meme coins have dominated the cryptocurrency market. Amidst this, PEPE certainly stood out for being inspired by a frog. Along with this, the meme coin’s rising price and market value have been making noise lately. The market cap of PEPE managed to move past $10 billion. The fairly new asset took over Uniswap (UNI) and Litecoin (LTC). But now, the meme coin was seen slowing down. Will it recover in time for Christmas?

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PEPE Plunges By 6%

At press time, the meme coin was trading at $0.00002385 following a 6% drop over the past 24 hours. It should be noted that just two days ago, on December 9, the asset hit an all-time high of $0.00002825. Currently, PEPE trades 16% below this peak. However, throughout the past month, the asset has surged by nearly 100%.

In terms of market cap, the asset took a major hit. After a 6% drop, the meme coin’s market value sits at $10 billion. PEPE is the 20th largest cryptocurrency in the market.

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December Prediction

The market expects to end the final year of this volatile year on a bullish note. According to data from CoinCodex, it is forecasted that Pepe Coin will trade in a range between $0.00001007 and $0.00002250 in 2024. This further sums up to an average yearly price of $0.00001542.

In comparison to the present rates, this may yield a possible return on investment of -5.52%. Investors might profit from unfavorable activity by shorting PEPE in light of the anticipated decline.

On Christmas Day, which falls on December 25, the meme coin could be traded at $ 0.00001316. This is a major fall when compared to the current price of the asset. However, overall market growth could result in a potential uptick in the PEPE network as well.

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