Frog

Ethereum

Pepe

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The PEPE

<p class="is-style-lead">In the past week, ethereum&#8217;s price has seen a slight 4% dip, coinciding with PEPE whales taking profits, as the token dropped 20%.</p>



<p>Over the past week, ethereum (<a href="https://crypto.news/price/ethereum/" data-type="URL" data-id="https://crypto.news/price/ethereum/" target="_blank" rel="noreferrer noopener">ETH</a>), the world&#8217;s second-largest cryptocurrency by market capitalization, has seen a slight downturn in its value. </p>



<p>According to CoinMarketCap data, ethereum, which stood at $1,879 seven days ago, is now valued at $1,796, marking a 3.97% decrease in its weekly valuation.</p>



<figure class="wp-block-image size-full is-resized"><a href="https://coinmarketcap.com/" target="_blank" rel="noopener"><img decoding="async" loading="lazy" src="https://crypto.news/app/uploads/2023/05/ETH_7D_graph_coinmarketcap.png" alt="Ethereum dips as PEPE whales take profits - 7" class="wp-image-14157537" width="1020" height="435"></a><figcaption class="wp-element-caption">7-day ETH chart | Source: CoinMarketCap</figcaption></figure>



<p>Simultaneously, a different story has been unfolding in the case of <a href="https://crypto.news/price/pepe/" data-type="URL" data-id="https://crypto.news/price/pepe/" target="_blank" rel="noreferrer noopener">PEPE</a>, a relatively lesser-known token affiliated with the popular Pepe the Frog internet meme. </p>



<p>The PEPE token, although not mainstream, has generated a buzz within the crypto community recently. Seven days ago, the token was valued at $0.00000169 and today it stands at $0.00000151 with a 20.33% decline in price.</p>



<figure class="wp-block-image size-full is-resized"><a href="https://coinmarketcap.com/currencies/pepe/" target="_blank" rel="noopener"><img decoding="async" loading="lazy" src="https://crypto.news/app/uploads/2023/05/PEPE_7D_graph_coinmarketcap.png" alt="Ethereum dips as PEPE whales take profits - 8" class="wp-image-14157542" width="1021" height="435"></a><figcaption class="wp-element-caption">7-day PEPE chart | Source: CoinMarketCap</figcaption></figure>



<p>A considerable number of PEPE whales – large holders of the token – have recently decided to realize profits. This activity is suspected to be one of the factors affecting ethereum&#8217;s price dip. </p>



<p>While the decrease in ethereum&#8217;s weekly price could be attributed to the larger volatility inherent to the crypto market, the timing of this dip coincides with the shift in the investment behavior of PEPE whales.</p>



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<p>Nevertheless, despite the weekly dip, ethereum continues to hold a firm position in the market, standing as the platform of choice for numerous decentralized applications (<a href="https://crypto.news/glossary/decentralized-applications-dapps/" data-type="URL" data-id="https://crypto.news/glossary/decentralized-applications-dapps/">dApps</a>) and smart contract operations. Its long-term performance continues to be a central point of interest for investors and market analysts.</p>



<p>PEPE, initially created as a humorous nod to an internet meme, has managed to gain traction.</p>



<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"><div class="wp-block-embed__wrapper">
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<p>PEPE has become a very popular token in a short amount of time, and ethereum continues to hold on to the second position in the global crypto pantheon as measured by market cap. </p>



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Ethereum dips as PEPE whales take profits

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