2025-1-4 18:50 |
PEPE, the third-largest meme coin by market capitalization, has faced challenges recently, extending its price decline from the previous week.
After reaching a local high of $0.000028 on December 9, fueled by a broader market resurgence led by Bitcoin, the frog-themed token has entered a retracement phase. However, despite this pullback, PEPE remains a standout performer among meme coins. With an impressive year-to-date gain of over 1600%, it continues to outpace its primary rivals, SHIB and DOGE, which have posted more modest increases of 100% and 323%, respectively.
Meanwhile, as the market cools off, analysts are speculating that PEPE could be gearing up for a major upward movement.
On Wednesday, Chandler Bing, a prominent analyst in the memecoin community, described PEPE’s current pullback as “just noise” in a tweet. He emphasized that PEPE could be on the brink of a massive price surge, projecting a potential 2,500% rally reminiscent of its explosive 2021 growth. Bing further suggested that PEPE’s market cap could potentially rival SHIB’s 2021 all-time high, marking a significant milestone for the frog-themed coin.
“Historically, from one range low to the next range high, there was always around a 2500% growth. Will the next range high match SHIB 2021 ATH market cap? PEPE.” He noted, adding in another tweet, “In October 2021, SHIB briefly surpassed DOGE in market capitalization, becoming the most valuable meme coin. Now think about what PEPE is capable of.”
To evaluate this possibility, it’s essential to consider PEPE’s current market environment. Like other successful meme coins, PEPE’s potential for exponential growth depends on a combination of community enthusiasm, market momentum, and virality.
Notably, SHIB’s meteoric rise in 2021 established a benchmark for meme coins, and PEPE’s performance suggests it could follow a similar trajectory if these factors align. Notably, a 2,500% surge by PEPE from current prices would place its value around $0.00056.
Adding to the optimism is the recent activity by whales. This month alone, whales have accumulated hundreds of billions of PEPE holdings, indicating confidence in the token’s future.
Interestingly, earlier this month, PEPE’s market cap even reached an impressive $11 billion, surpassing Ethereum’s DeFi cornerstone Uniswap and briefly breaking into the top 20 cryptocurrencies by market cap. Over the past few days, PEPE has re-entered the top 10 most-traded cryptocurrencies, as per data from CoinGecko, signaling heightened interest and activity.
PEPE was trading at $0.00002119 at press time, reflecting a 3.65% surge in the past 24 hours.
origin »Pepe Cash (PEPECASH) на Currencies.ru
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