Arbitrum Price Falls Amid Governance Hopes and Pepeto Presale Success

The ArbitrumDAO recently held elections to fill six seats on its 12-person Security Council. Michael Lewellen led the vote with 25.19 million weighted votes, according to BeInCrypto. The new council members will take office on May 21.

The election news boosted the price of ARB, but it still trades near $0.13, a significant drop from its January 2024 high. Changelly's Arbitrum price prediction caps the best-case scenario at $0.194 by December, barely exceeding the current price of $0.13.

In contrast, Pepeto has seen its presale raise over $9 million during market fear. The token offers a cross-chain bridge with no fees and a contract risk scorer to identify potential threats. A developer who worked inside Binance is now part of the team, and a listing on the exchange is approaching.