© Provided by BenzingaCrypto traders under the pseudonym warn that Dogecoin (CRYPTO:DOGE) and Shiba Inu (CRYPTO:SHIB) rival Pepe Coin (CRYPTO:PEPE) faces an imminent crash to zero.
What happened: DonAlt warned his 484,000 Twitter followers on Thursday that Pepe's coin would collapse.
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The trader's assessment is based on the chart, which shows the sudden sharp rise and fall of PEPE over the past few weeks. He predicts that the currency will become worthless in the next three to five years.
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"Where is PEPE going next? Spoiler alert: the answer is zero. Just wait three to five years for him to reach his goal," the seller wrote on Twitter.
Why it matters: The PEPE trend appears to be running out of steam as whales start depleting their populations. This followed a significant drop in the value of meme coins, which caused "smart money" wallets to reduce their PEPE holdings by $3 million in 24 hours.
Currently trading at $0.000001138, PEPE is down 35% in the last 24 hours alone and more than 75% from an all-time high of $0.00000431 reached on May 5.
Read more: Bitcoin, Ethereum and Dogecoin fall despite mildly positive hiring and price data: Analysts think Elon Musk will step down as Twitter CEO. “Bad news” according to DOGE
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