As a seasoned crypto investor with a keen interest in meme coins, I’ve witnessed the meteoric rise of PEPE, the frog-themed project that has taken the market by storm. This coin, which just surpassed its all-time-high (ATH) price, is currently exhibiting a remarkable 22.41% surge in the past 24 hours to $0.00001356. While this is a slight pullback from its recent ATH of $0.00001422, it’s an impressive feat nonetheless.
As a crypto investor, I’m excited to see PEPE, the meme coin project with a frog theme, outperforming its rivals in the market right now. In just the past 24 hours, PEPE has experienced a significant gain of 22.41%, reaching a price of $0.00001356. This is an impressive surge that surpasses its previous all-time-high (ATH) of $0.00001422, which it hit only a few hours prior. While this current price is a slight dip from the recent ATH, it’s important to remember that markets can be volatile and prices can fluctuate rapidly. Nonetheless, I’m optimistic about PEPE’s potential for continued growth.
PEPE has experienced significant growth during this ongoing bull market, setting it apart as a notable exception among meme coins. An examination of its recent development reveals that PEPE is making strides to challenge the popularity of Dogecoin (DOGE) and Shiba Inu (SHIB). Over the last 24 hours and the previous week, PEPE has registered impressive gains, with a surge of 22.36% in the past seven days.
Over the past month, PEPE has surpassed both the market and the average meme coin with a remarkable 107% growth. Given this context, PEPE is currently trading significantly above its 50-day, 100-day, and 200-day moving averages, indicating its strongly bullish trend.
The significant increase in PEPE‘s price is a positive sign, but there’s a possibility of a pullback that could mark a cooling-off phase. To prevent this from happening, PEPE’s community must maintain the impressive 71% surge in trading volume, currently standing at over $4.38 billion or approximately 32.9 trillion PEPE tokens traded daily.
As a researcher studying the meme coin market in early 2023, I recall the emergence of PEPE and the surrounding doubts about its sustainability due to its distinctiveness from popular dog-themed coins like DOGE and SHIB. Despite these skepticical voices, PEPE managed to outshine its competitors, making it the first major meme coin to retest its all-time high (ATH) following the crypto winter.
PEPE faces a significant challenge moving forward: it hasn’t yet established a clear use case or industry partnership to give it a specific purpose beyond being a meme coin. Unlike Shiba Inu with Shibarium and Solana, or BONK with its connection to mobile payments, PEPE remains highly speculative despite recent achievements.
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2024-05-22 17:00