Aug 29, 2023

Meme coin PEPE fell 22% this week after losing nearly 80% of its value since its peak in May, according to CoinDesk Market Index data.

Video transcript

The chart of the day is brought to you by crypto dot com. The world's fastest growing crypto app. Let's take a look at the chart of the day. Two of the top meme coins by market cap have suffered losses this year. Doge is down roughly 7% this year with the most bearish pressure coming during European hours. That's according to be data app cumulative year to date returns during European trading hours were down 44% while returns during the same period were down 25% during us trading hours. This comes as Pepe continues its down trend according to the coin desk market index, the frog coin is down 22% this week after a team member claimed that rogue developers transferred millions of dollars worth of Pepe coin to centralized exchanges on sloops previously noted troubling changes to the oversight of how a developer related wallet handles transaction approvals. Pepe has lost nearly 80% of its value since its peak in May. That's it for today's chart of the day. I'm Jenna. We will see you next time to unpack more of the data behind top news stories

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