PEPE Price Stalls as Team Issues Warning on X Account

Frog-themed cryptocurrency PEPE has been trending downward since reaching an all-time high of $0.00002825 in early December 2024. Taken from this high, PEPE is down nearly 75%.

PEPE’s sell-off coincides with a bearish death cross appearing on its chart in February; PEPE subsequently reached lows last seen in August 2024 this week.

Zooming out, the PEPE price has stagnated in recent days since reaching lows of $0.00000627 on March 4. Since this date, PEPE has fluctuated in a tight range between $0.00000627 and $0.00000736.

At the time of writing, PEPE was up 4.11% in the last 24 hours to $0.0000072, erasing losses from yesterday’s sell-off.

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Cryptocurrencies tumbled on Thursday as traders are sold on the notion that the U.S. had no immediate plan to buy Bitcoin, as per a newly signed executive order, against the backdrop of major weakness in equities. 

A handful of cryptocurrencies, like PEPE, are showing indications of recovery, while others continue to trade in losses.

PEPE X account hacked?

In a tweet yesterday, the team behind the popular meme coin PEPE alerted the community that its official X account had been compromised, urging users to ignore all links and posts from the account until further notice.

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This unexpected development has raised concerns among investors, as social media remains a key communication channel for crypto projects. Phishing scams and fraudulent posts from compromised accounts have historically resulted in major financial losses in the cryptocurrency industry, therefore, traders and holders should exercise caution.

At press time, there was no confirmation from the PEPE team that they had regained control of the X account.

The crypto community continues to closely monitor the issue, waiting for further announcements from the PEPE team. The PEPE and the broader crypto community are urged to remain vigilant and avoid engaging with any suspicious content until official communication is restored.