Why Overlooked Memecoin Pepe Is Bullish Again
Pepe (PEPE) is in the top 30 cryptocurrency coins and is up by more than 12% today as it recovers from a recent drop. This could be a good opportunity for new investors to step in.
Recent news about the Pepe coin climbing quickly has brought some attention to the memecoin. It is not as well known as Dogecoin (DOGE) or Shiba Inu (SHIB), but it is climbing faster than either of those coins today with a 12.25% increase.
Over the last week, PEPE has not done so well, losing 19.33%, but it is making much of that up in a short period of time as Tuesday trading heats up. Trade volume is down by 45%, but nearly $1.7 billion has still come in over the last 24 hours. Obviously, not everyone is overlooking this coin, but it does not get the same mainstream market penetration that its memecoin rivals do. That means that it could sneak up fast and under the radar if investors are not aware of what is going on.
What to Know about Pepe
This memecoin is powered by its loyal community, gaining as consumer interest increases. The more people talk about this coin on message boards and hype it up and then invest into it, the higher the coin goes. If consumer sentiment is low and there are fewer mentions of Pepe online, the coin will drop rapidly. The life cycle of a memecoin is often short, but Pepe has persevered to outlive many of its competitors and prove its market longevity.
This Ethereum-based coin stands out from other coins of its ilk by burning off some of its coin supply. This happens periodically and allows the coin to retain its high market value even when little trading is happening. What that means for Pepe’s future is that the coin could be created endlessly. Unlike some similar cryptocurrencies, Pepe is not mined, since it is a token.
Pepe’s current value is $0.00001056 (PEPE/USD), which has grown by 1,062% since this time last year. That speaks well of Pepe’s growth potential. With cryptocurrency likely to receive greater legitimacy and ease of use under the Donald Trump presidential administration, this token could take off in a big way in 2025.
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