![Pepe [PEPE]: Searching for the bottom amidst fading euphoria](https://i.headtopics.com/images/2023/5/13/cryptoamb/pepe-pepe-searching-for-the-bottom-amidst-fading-e-pepe-pepe-searching-for-the-bottom-amidst-fading-e-1657318516071055360.webp)
Pepe [PEPE] has seen a decline in value and trading volume, but social activity suggests it may not have hit its lowest point.
, PEPE continued to generate activity. On 5 May, the coin experienced a remarkable surge in social dominance and volume, reaching an all-time high. Since then, however, there has been a decline.As of this writing, the social volume stood at 65, significantly lower than the peak of 863 on 5 May. Additionally, the social dominance score dropped from 12% of crypto space discussions on 5 May to 3.3%.
These metrics indicated that the meme coin was still garnering attention despite its price plunge. Also, it suggested that the bottom was not yet in., PEPE has experienced a significant decline in value, losing approximately 60% over the past seven days. It also lost more than 20% within the last 24 hours.
Additionally, there had been a notable decrease in trading volume. The 24-hour volume dropped to around $760 million from the over $2 billion recorded on 5 May. Despite these declines, the year-to-date data revealed a remarkable gain of over 2000% since the coin’s inception.
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