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Meme Coin PEPE Plummets as Insider Sells Trillion Tokens; Cardano and Arbitrum Also Struggle

June 16 (Cointime) - The popular meme coin Pepe (PEPE) has suffered a significant decline, losing almost 90% of its gains and facing bearish market sentiment. This drop was triggered by the sudden sale of one trillion PEPE tokens by a potential insider, causing a sharp contraction in its market value.

Meanwhile, Cardano (ADA) has experienced a 32% drop in the past seven days due to the market-wide sell-off, with its price chart showing a consistent downward trend and key support levels being broken.

Additionally, Layer 2 solution Arbitrum (ARB) has seen a decline in activity and transaction volume as Ethereum gas fees stabilize, but it still holds potential for enhancing Ethereum's network scalability.

Ethereum Ethereum $3,522.88
+6.36%
PEPE Cardano
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