In the midst of a sluggish period for the cryptocurrency sector, the meme coin frenzy that recently stirred the crypto market may not be entirely over. Dogecoin (DOGE) is a prime example of meme coins, and PEPE Coin (PEPE) is one of the freshest entries to this club. PEPE Coin has indeed made a mark recently, amassing a sizable follower and investor base. But what do the experts and data indicate about the future of PEPE Coin?
PEPE Coin Reviews
In terms of total market value, PEPE is currently ranked 76th, which is still considered a good position, despite a dip from its all-time high. The meme token, with a market cap of 608 million dollars, lags 66% behind its record price of $0.00000431. This offers an illustration of the substantial surge potential offered to investors during a new meme coin frenzy. Meme coins like Dogecoin and Shiba Inu have managed to revisit and exceed their old peak points during similar rallies in the past. Whether this will happen for PEPE is uncertain, but looking at the on-chain data, it appears that investors are working hard, although it seems rather grim.
Within a 24-hour period, PEPE reached a trading volume of 134 million dollars, indicating a 40% decline compared to the previous day. However, according to recent data released by Lookonchain, an anonymous PEPE whale sold 1.33 trillion PEPE this week. The PEPE/ETH pair transaction was worth 2.11 million dollars at the time, suggesting a significant trade. PEPE sales by whales hint at a short-term negative trend for the future of PEPE.
PEPE Coin Future
Looking at the price data, the first resistance level on the 4-hour chart at $0.00000145 has been tested but not breached. PEPE, which saw a sharp pullback during the day and dropped to $0.00000140, could surprise investors with other drops if it goes below this support. The only hope for PEPE, currently experiencing a decline in search volume on Google Trends, seems to be a new rally or meme coin frenzy.
