Crypto
Pepe Plunges 10.4% After Short Squeeze Event Fades
Pepe (PEPE) experienced a sharp decline of 10.41% after a short squeeze event that had driven its price upwards.
The token's market capitalization briefly surpassed $2 billion during the short squeeze, but it has since fallen under broader selling pressure.
Despite its high trading activity among retail participants, Pepe continues to show weak institutional engagement.
The current price action is being driven by technical momentum, with the token's price dropping towards key support levels after overstretched momentum signals.