The Pepe Coin (PEPE) has experienced a significant drop in price, leading some to speculate that it may be dead. Currently trading at around $0.0000015, which is a 60% decrease from its recent high of $0.0000040, Pepe is forming a pennant structure that could result in either a surge or a further decline.

Despite its widespread popularity and massive surge in market and social activities, top crypto experts still believe that Pepe (PEPE), a meme-based cryptocurrency launched less than a month ago, is a scam. Chris Blec, founder of DeFi Watch, asserts that scams like PEPE are created by big money, powerful people, and careful planning, and that retail investors are pawns in a much bigger game.

According to a Forbes article, the cryptocurrency market has entered a new bull market cycle, following a historical pattern. In 2023, Bitcoin reached $30k and meme coins are back in action. After weighing the pros and cons of various altcoins, four coins were found to have exceptional potential for future scope, projects, and price ranges.

Synthetix (SNX) has experienced a 10% increase in trading over the past 24 hours, which is attributed to a new proposal. The proposal, known as Synthetix Improvement Proposal (SIP) 2014, would add PEPE coin markets to the L2 blockchain. This has caused a surge in volumes, with a 150% increase in the wake of the proposal. Synthetix is a decentralized exchange for trading "synthetic" crypto assets and operates as both a Layer-2 scaling solution and DEX. The project was launched in Sept 2017 by Kain Warwick and lives on the Ethereum and Optimism mainnets.

Last year, a metal bull welcomed visitors to the annual Bitcoin Magazine conference in Miami when Bitcoin was over $40,000. However, this year, as the crypto market experiences a fresh winter, Pepe has taken over. The first day of the conference was somewhat subdued, with serious yet hopeful discussions on topics such as "The Fed vs. The Financial System" and "Bitcoin & The Banking Crisis." Pepe-themed art was a highlight of the event, including a 21-panel mural called Pepernica, which pays homage to Picasso's Guernica. The conference also featured a Bitcoin Bazaar where Bitcoin-related items could be purchased.

There is speculation on Crypto Twitter that BlackRock Fund, the world's largest asset manager, may be holding Pepe (PEPE) memecoin. This speculation arose when a wallet labeled BlackRock withdrew 1.27 trillion in PEPE tokens worth $1.98 million from Binance to four addresses on May 18. Lookonchain suggested that the addresses were likely created by the investment firm. However, some are skeptical that the wallet belongs to BlackRock, as the idea of the world's largest asset manager trading memecoins seems unlikely. Despite this, PEPE's value has surged massively in recent weeks, reaching a market cap of over $1 billion.

The rise of PEPE has sparked renewed interest in memecoins among investors, even as bitcoin's rally has stalled. Investment giant BlackRock recently withdrew 1.27 trillion PEPE (worth approximately $1.98 million) from Binance to four addresses, which are believed to have been created by the American investment company.

PEPE, one of the most popular meme coins, has lost over 12% of its value in the past 24 hours, making it the worst performer among the top 100 cryptocurrencies by market cap. The token has been underperforming since reaching its all-time high price of $0.000004354 12 days ago and is now down by more than 65%. The broader cryptocurrency market is also underperforming, which could make it difficult for PEPE to regain its all-time high price in the near term. However, if the fundamentals of the market improve, there is a possibility that PEPE's value could soar higher over the next few weeks.

The world of cryptocurrencies is full of surprises, with meme coins like DigiToads and PEPE gaining popularity and generating wealth. DigiToads has a professional and verified team, an immersive web3 game, an NFT marketplace, and plans for a decentralized exchange and charitable donations. It has passed an audit and is set to be listed on BitMart. On the other hand, PEPE lacks a clear roadmap and team, and its tokenomics are less complex. While savvy traders may find opportunities with PEPE, DigiToads appears to have more potential for long-term growth.

Over the weekend, PEPE saw a rally and doubled in price, but it was unable to break the key resistance level of $0.0000020. The current support level is at $0.0000011, and the trading volume increased briefly before fading on Tuesday. The 12h RSI and MACD indicators are both bearish, and the bias for PEPE remains bearish unless it can break the key resistance level. Short-term predictions suggest that PEPE may continue to range under the resistance level for the remainder of the week, as buyers have been absent.