Pepe the Frog (
PEPE) memecoin saw its token price plummet by 10% today albeit the general crypto landscape experienced a deja vu as The US Personal Consumption Expenditures (PCE) inflation numbers for February have been released, showing a steady trend in headline inflation but a slight uptick in core inflation.
Bitcoin and altcoins have extended losses further from earlier today as BTC slips under $85,000, while Ethereum (ETH) tanks 7% slipping under $1,900. Current trend shows that investors could expect strong volatility over the weekend.
US PCE Data Shows Inflation Remains Sticky
As per the Bureau of Economic Analysis, the US PCE inflation data remained unchanged at 2.5% for the month of February, aligning with the market expectations and the previous month’s reading. However, the year-over-year core inflation came hotter-than-expected at 2.8%, higher than both the previous reading of 2.6% and the expected 2.7%.
Technical Outlook of PEPE
As of the time of writing, PEPE is down 8% trading within a bearish trend pattern. the asset is approaching the 65% Fibonacci retracement point is serving as support point should selling pressure submerged. Furthermore, with the RSI at 45, there might be further consolidatory move by PEPE to cement a perfect liquidity pick region to increase the demand for $PEPE.
Pepe Price Live Data
The live Pepe price today is $0.000008 USD with a 24-hour trading volume of $519,642,130 USD. Pepe is down 8.84% in the last 24 hours. The current CoinMarketCap ranking is #31, with a live market cap of $3,265,213,245 USD. It has a circulating supply of 420,689,899,653,544 PEPE coins and a max. supply of 420,690,000,000,000 PEPE coins.