Who doesn’t know about Pepe Coin? The memecoin that recently gave over 20,000% returns and is on the rise again surging over 15%.
Pepe coin (PEPE) is a deflationary memecoin launched on Ethereum in April 2023 as a tribute to the Pepe the Frog internet meme, which gained popularity in the early 2000s. The project has no real-world use-cases.
Pepe coin appeals to the cryptocurrency community by instituting a no-tax policy, a redistributive system rewarding long-term stakers, and a burning mechanism to maintain the scarcity of the PEPE coin.
In this article, we will analyze the recent price performance of pepe coin, its market cap, all-time high and low, and the factors behind its popularity and surge.
Also read, 5 Best Meme Coins to Buy This Summer
Pepe Coin Price Prediction
Currently, Pepe coin has a price of $0.000001160, which represents approx a 15% increase in the last 24 hours. The coin has a market cap of $450mn and a trading volume of $20mn in the last 24 hours. The coin has a circulating supply of 420 trillion PEPE and a total and max supply of 420.69 trillion PEPE.
The highest price paid for Pepe coin is $0.00000431, which was recorded on May 5, 2023. The lowest price paid for pepe coin is $0.000000055142, which was recorded on Apr 18, 2023.
Let’s have a look at the chart for Pepe crypto price analysis:
On H4 timeframe level, the price action of $PEPE Formed out Descending Triangle pattern level where the price action broke down the support level and went downwards.
The price action still consolidates below the support level.
Pepe Coin Popularity and Surge Factors
Pepe coin has gained popularity and attention among the crypto community for several reasons. Some of them are:
- Meme appeal: Pepe coin leverages the power of memes to attract users and investors who are looking for fun and entertainment in the crypto space. Pepe the Frog is a well-known and controversial internet meme that has been used by various groups and movements over the years. By creating a cryptocurrency based on this character, pepe coin taps into a large and loyal fan base that supports the project.
- Community engagement: Pepe coin has a strong and active community that engages with the project on social media platforms such as Twitter and Telegram. The community uses hashtags such as #PEPEArmy and #PEPEtothemoon to promote the project and spread awareness. The community also participates in various contests and giveaways organized by the team to reward users and increase adoption.
- Market sentiment: Pepe coin benefits from the positive market sentiment towards meme coins in general, which have been experiencing explosive growth in recent months. Meme coins such as Shiba Inu and Dogecoin have seen massive price surges due to celebrity endorsements, social media hype, and retail investor frenzy. Pepe coin rides on this wave of enthusiasm and demand for meme coins by offering a similar value proposition with its own unique twist.
- Technical factors: Pepe coin also benefits from some technical factors that contribute to its price performance. The no-tax policy makes pepe coin attractive to users who want to avoid transaction fees that are common in other cryptocurrencies. The redistribution system rewards long-term stakers with more PEPE coins for holding them, creating an incentive to buy and hold. The burning mechanism reduces the supply of PEPE coins over time, creating scarcity and increasing demand.
Pepe coin is a memecoin that has been surging in popularity and price. The coin is based on the Pepe the Frog internet meme and aims to become one of the top meme-based cryptocurrencies.
The coin has benefitted from the internet frenzy around memecoins and is now a strong competitor to Dogecoin and Shiba Inu Crypto.
However, the coin also faces some challenges that may limit its growth and adoption in the future. Therefore, investors and users should research and be careful before buying any meme coin, as they are very risky and volatile. Pepe coin may be a fun and memeable token, but it may not be a reliable or long-term investment.
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