Pepe Coin has taken a massive hit, losing $6 billion in market cap since December. The token, which once peaked at $10 billion, now sits at just $4.1 billion after a 46% decline. This downturn aligns with broader market trends, as the crypto market lost over $900 million in a single day, with Bitcoin dipping below $100,000.

Pepe had previously seen major gains, such as an 85% increase following its Coinbase listing in November and fueled by hype and speculation, but the recent downturn has raised concerns about its long-term sustainability. While some traders view this as a buying opportunity, others see it as proof that memecoins are driven more by sentiment than fundamentals. With memecoins proving to be some of the most unpredictable assets.

With no clear catalyst for a rebound, Pepe's future remains uncertain. The market will decide whether this is just another cycle of boom and bust or the beginning of a deeper decline. Show Less