PEPE Coin has pushed aside Dogecoin and Shiba Inu in recent weeks. Meme coin is one of the most discussed altcoin projects right now. A few weeks ago, it recorded a huge rise. After that, it became the next meme-coin sensation. So, is it possible for PEPE Coin to do 100X this year? Crypto expert Prasanna Peshkar seeks an answer to this question.
What is PEPE Coin?
PEPE Coin is a meme coin that developers built on the BRC20 token standard. This means that this altcoin was created using the ordinates of the Bitcoin Blockchain. The symbol is based on the well-known internet meme Pepe the Frog. Thanks to this famous meme, the coin has established itself as the best-known BRC-20 token in recent weeks. The spread of the famous meme via Twitter and other channels has caused the meme coin to experience the typical short-term hype.
How has the altcoin price moved over the past few weeks?
After the PEPE coin airdrop, the price initially moved sideways for a few days. Next, cryptocoin.comAs you can follow, it recorded a great increase at the end of April. During this time, the price of PEPE increased more than tenfold in a few days. However, the price fell sharply again in the days following the hype. PEPE is currently worth $0.0000015. On the other hand, the altcoin price is still 6 to 7 times higher than before the big rally.
Could the price of PEPE rise again 100 times in the coming months?
Meme coin has the potential to rapidly increase in value in the coming weeks and months. On the other hand, it is possible that the hype will fade in a short time and PEPE Coin will remain stable. In addition, it is possible to lose value. Because these are typical features of speculative meme coins.
It is also possible that PEPE Coin will follow a similar path to Dogecoin and Shiba Inu Coin. This is based on the fact that Pepe the Frog is a well known meme that can easily spread via social media. However, there is a possibility that PEPE is following in the footsteps of many other Dogecoin clones. Thus, it is possible to rise sharply in the long run. On the other hand, it is important to keep in mind that many such coins have disappeared and investors have lost money. Therefore, investing in a meme-coin always involves high risk.
If a big 100x or 1000x rally is possible, this is more likely in the 2024 bull market. This was similar to the Shiba Inu Coin, which is expected to explode in 2021. Several factors will need to come together for the price of PEPE to rise 100 times in the coming months. First, the overall cryptocurrency market needs to continue to grow and mature. Second, PEPE needs more widespread adoption and use. Third, it is imperative that the team behind PEPE continue to develop and improve the project. If all these factors come together, it is possible for PEPE to see a significant price increase in the coming months.
However, it is important to remember that there is no guarantee that the price of PEPE will increase. The cryptocurrency market is volatile and unpredictable. There is always a risk of losing money when investing in cryptocurrencies. Investors should always do research before investing in any cryptocurrency.
Here are some factors that could contribute to the PEPE price going up:
- Greater adoption by businesses and individuals.
- Increasing demand for PEPE tokens.
- Decrease in the PEPE token supply.
- Positive news about the PEPE project.
- Positive mood in the cryptocurrency market.
Here are some factors that will contribute to the PEPE price drop:
- Declining adoption by businesses and individuals.
- Decreased demand for PEPE tokens.
- Increased PEPE token supply.
- Negative news about the PEPE project.
- Negative mood in the cryptocurrency market.
The opinions in the article are those of the experts and are definitely not investment advice. As the expert pointed out, we strongly recommend that you do your own research.
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