Amid the excitement in the cryptocurrency market, meme-inspired tokens like Pepe (PEPE) are reaching their peak at an impressive rate. While Bitcoin (BTC) is in the spotlight as it surges to $72,000, the Pepe coin is also gaining huge traction in the market.
Our previous analysis suggested that PEPE could be one of the three coins that will make you a millionaire in 2024. Now, let’s take a deeper look at why Pepe is so high-profile and what incredible heights the PEPE token price is expected to soar to.
PEPE Price Forecast: How will PEPE prices trend in recent days?
The value of Pepe Coin has surged to $0.00000946 today, up 5.11% in the past 24 hours. Although Pepe Coin’s market dominance is relatively small, accounting for only 0.14%, its market capitalization has reached US$3.73 billion, and its 24-hour trading volume has reached US$1.30 billion, demonstrating its market influence.
On March 9, 2024, Pepe Coin hit its highest price in history, reaching $0.0000059873. Its lowest price occurred on April 14, 2023, at only $0.00000000001057. Judging from historical data, Pepe Coin has always experienced volatility, but since hitting historical lows, it has seen a considerable recovery.
Market sentiment shows a generally bullish attitude surrounding Pepe Coin price predictions, with the Fear and Greed Index showing an extremely greedy level of 81.
In addition, the supply of Pepe Coin is currently 420.69 trillion, which has exceeded the maximum supply of the same amount, showing its extremely high market activity and investment attractiveness.
PEPE Price Forecast: Why are PEPE prices rising?
The popularity of the Pepe coin is rapidly rising, thanks in large part to its vibrant community, which seems to be driving the coin’s upward trajectory. According to LookOnChain’s observations, the appeal of Pepe tokens is particularly prominent among cryptocurrency whales.
A crypto whale reportedly purchased a staggering number of Pepe tokens on the Binance exchange, reaching 840.86 billion. This massive purchase highlights the widespread attention and intense interest that Pepe tokens have generated in the cryptocurrency space.
A “crypto whale” generally refers to an individual or entity that holds large amounts of cryptocurrency. In this case, a whale made a large purchase of Pepe tokens from the well-known cryptocurrency exchange Binance. This purchase demonstrates the huge demand and interest in Pepe tokens from large investors, which may help drive further increases in the token’s value.
MEME sector rose across the board!
Data shows that as of now, the market value of MEME currency is US$66.529 billion, with a 24-hour increase of 9.2%. In addition, in the past 24 hours, global trading volume of Meme coins reached 10.7 billion US dollars.
in:
WIF has risen 34% in the past 24 hours and is now trading at $3.09;
DOGE has risen 6.7% in the past 24 hours and is now trading at $0.1839;
SHIB has risen 1.4% in the past 24 hours and is now trading at $0.00003341;
PEPE has risen 19.3% in the past 24 hours and is now trading at $0.00001051;
BONK has risen 12.3% in the past 24 hours and is now trading at $0.00003343.
There are so many MEME coins, how to choose a meme coin with potential?
Here, Brother Dong will tell you my own opinions.
1. Try to predict future trends, narratives or hot topics before they emerge
In the previous article, Brother Zhongzhong has already mentioned that we must attach great importance to the celebrity effect, and local dog narratives must be supported by celebrities. Just like yesterday, Musk said that DOGE payment will be launched in the future, which is good news. Sure enough, DOGE has attracted a lot of attention. Once Musk starts to seriously place orders for a certain local dog, it will be necessary to chase high at that time.
In addition, pay attention to whether Ultraman, Trump, and some sports stars and entertainment stars will enter the venue at that time
2. Be sure to check the community strength of the token
➢ Scan social media: Twitter, Telegram, Discord for updates
➢Check if the token is popular on DEX Tools and Coingecko
➢ Evaluate the engagement rate of their posts
3. Check the community atmosphere of the token
After compiling a meme coin watchlist, gain a deeper understanding of the strength of its community.
Community is the most important factor affecting Meme coins.
Therefore, a good meme coin should be fun, engaging, and simple.
What's going to happen next?
The current market has really reached a critical watershed stage. On the one hand, technology companies in the US stock market are constantly setting new highs. On the other hand, the S&P 500 Silo P/E ratio has entered the overvalued range! At the same time, the Federal Reserve is hinting that it will cut interest rates (releasing water) in the second half of the year. The pace can be said to be very fast, but now it is very contradictory. At this pace, it is completely impossible for a big drop to occur. Of course it is impossible, but what if it continues to accelerate and grow several times before correcting? You are worried about miss the pump on this increase. The normal state of investment is always that you should always imagine countless possibilities in your mind, and you need to have strategies to deal with various possibilities. If it falls again, it will only provide an opportunity to enter the market, so even if the position is large, there is still no worry about a short-term market retracement. Still maintain the view: If there is a short-term retracement, it is a good time to attack the hot track and judge the three hot tracks for getting rich this year - Ai, games, the second layer of the BTC, and the local dog.
Choose the right track, choose the right coin, and only with a heavy position can miracles happen. Do you dare to add when given the opportunity? This is the basis of ability that determines whether there is a chance to break through in this round.
These two months are still a time when high-density and big opportunities will appear, so stay sharp.
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