Can PEPE coin still rise 100 times this year?
After the PEPE coin airdrop, the price initially traded sideways for a few days. Then, at the end of April, there was a big increase. During this period, the price of PEPE increased more than ten times in a few days. In the days following the hype, the price dropped sharply again. PEPE is currently worth $0.000001455. Prices are still 5 to 6 times higher than before the major rally.
The PEPE meme coin has the potential to skyrocket in value in the coming weeks and months. On the other hand, the hype may fade quickly and the PEPE coin will either remain stable or lose value. These are all typical features of a speculative memecoin.
PEPEcoin is likely to follow a similar path to Dogecoin and Shiba Inucoin. This is backed up by the fact that Pepe, the Frog is a well-known meme that can easily spread through social media.
However, in the long run, the PEPE token may follow in the footsteps of numerous other Dogecoin clones and stop the surge and begin to decline. Many of these coins have disappeared, and investors have lost money as a result. However, such is the risk of investing in memecoins.
If a massive 100x or 1000x rally is possible, it should be more likely in the 2024 bull market. It is similar to Shiba Inu Coin breaking out in 2021.
PEPE prices have the potential to rise 100-fold in the coming months, but for this to happen a combination of factors will be required.
First, the entire cryptocurrency market needs to continue to develop and mature. Second, PEPE needs to gain wider adoption and use. Third, the team behind PEPE needs to continue to develop and improve the project.
Here are some of the factors that can cause the price of PEPE to increase:
- Increasing adoption by businesses and individuals
- Increased demand for PEPE tokens
- PEPE token supply reduction
- Positive news about PEPE project
- Positive sentiment in the cryptocurrency market
Here are some factors that could cause the price of PEPE to fall:
- Declining adoption by businesses and individuals
- Less demand for PEPE tokens
- Increased supply of PEPE tokens
- Negative news of the PEPE project
- Negative sentiment in the cryptocurrency market
(Data source: Prasanna Peshkar)