The meme coin PEPE, which made a name for itself in the cryptocurrency market in 2023, continues its impressive performance into 2024. PEPE broke its all-time record in recent weeks with a price of $0.00001084. However, there was a subsequent decline in price. So, could it be time to consider buying the meme coin?
Cryptocurrency Market and PEPE
While the cryptocurrency market is experiencing a 1.5% decline today, all eyes are on the meme coin PEPE. The price of PEPE coin has fallen by 4.94% in the last 24 hours to $0.00000751, causing concern among many investors.
The meme coin PEPE has experienced a 10% drop over the past week, while it has made an impressive 580% gain over the last 30 days. These figures once again demonstrate how quickly the world of cryptocurrency can change.
Considering its disproportionate surge capability during rallies and bull runs, there is hope that meme coin PEPE can return to growth when market momentum increases.
PEPE Becomes the 42nd Largest in the Crypto World
In particular, the rise of meme coin PEPE in market value rankings to the 42nd position could trigger more gains in the near future.
However, the challenges currently faced by meme coin PEPE should not be overlooked. The cryptocurrency appears to be going through a tough period due to low momentum and lack of demand.
Indicators suggest that PEPE is on a downward trend and the likelihood of a short-term recovery is low. However, the fact that whales are still holding PEPE and many investors believe in its growth shows that hope is not lost.
Increase Possible After Bitcoin Halving
Meanwhile, following the halving of flagship cryptocurrency Bitcoin, the market is expected to rise further, and meme coin PEPE is likely to rally as well. In the coming weeks, we might see a price tag of $0.000010, and we should be prepared for bigger rallies as we approach the summer months.
In the world of cryptocurrency, encountering prices that are high one day and low the next is a common occurrence. However, the volatile nature of tokens like PEPE should never be forgotten. With rising prices, meme coin PEPE could climb to even higher levels among cryptocurrencies.
