Pepe (PEPE) was one of the most exciting (and profitable) new meme coin launches of 2023, yet, with a multi-billion market cap success, many are saying its best days are behind it.
In this article, we dive into the latest Pepe price trends and investigate whether a newer meme coin could be the hottest addition to the meme coin market.
$PEPE has more daily volume than $DOGE and $SHIB combined.
Meanwhile, $DOGE's market cap is almost 5x bigger than $PEPE.
Should PEPE be valued as much as DOGE or SHIB? pic.twitter.com/uxLGwRqN7p— Lark Davis (@TheCryptoLark) September 5, 2024
Despite the somewhat ‘Blue Chip’ nature of Pepe today, the coin remains a favorite amongst traders, as seen by its incredibly high volume – which almost triples rival coins such as FLOKI and SHIB.
This could perhaps be explained by PEPE’s unique status as the only frog coin in the top 6 meme coins, which stands out in a dog-eats-dog world.
PEPE Price Analysis: Is The Top Frog Heading South? How Much Money Could it Make You?
Jumping into the PEPE price chart, it can be seen that the coin is currently trading at a market price of $0.000007 (representing a 24-hour change of -1.55%).
This comes as Pepe continues to track the broader market decline, which has left the price at a miserable -9.5% month-on-month, and an even worse -45% decline over the past 3 months.
Yet, despite this downturn in price, PEPE remains poised, with a market cap defiant above $2.9Bn.
Localized price action paints a bleak view; while still trading above the lower support level at $0.000006, the meme coin has been in serial decline over the past month, with high volatility, as shown in the Bollinger bands.
Worse still, price action remains on its 11th day, below topside resistance from a descendant 20DMA, which leaves PEPE vulnerable to further losses.
Some positivity can be found in our key indicator – the RSI – which depicts oversold price action and bullish capacity at 39.3.
However, fundamental market conditions will need a face-lift if the coin is to resume the upside in the coming weeks.
It’s also worth considering whether Pepe offers much allure at its $2.9Bn market cap, which significantly limits upside returns.
Let’s imagine for a second that the top frog overtook DOGE – to become the top meme coin in the space.
This would mean a market cap of $13.6Bn – an insane influx of over $10Bn in capital (similar to the entire GDP of Tajikistan) – yet only resulting in a 4.6x return for holders.
Sure, that’s nothing to be sniffed at, but when we consider an emerging popular alternative – Pepe Unchained – an influx of $10Bn would give holders a magnificent 833X return!
Pepe Unchained Outperforms Pepe In Every Way
But why are holders getting so excited about the Pepe Unchained alternative?
This project is so much more than a classic frog meme – this is about redoing the now legendary Pepe – but right.
What’s the problem with Pepe?
The answer is simple: in an age of high-octane Solana markets – Ethereum is the old chain – it’s slow, it’s expensive, it’s clunky – it’s not cool.
Pepe Unchained — Groundbreaking Layer 2 Blockchain technology.
Welcome to the future of meme coins.pic.twitter.com/iC9b6YSynT
— Pepe Unchained (@pepe_unchained) September 6, 2024
Yet, with the top frog originally launching as an ERC-20 token, this has stifled the development of a true PEPE ecosystem.
Luckily, PEPU is here to change the game – with the launch of a high-speed, low-cost layer-2 bespoke made for meme coin developers to expand on the original token.
In this light, PEPU can be seen as PEPE 2.0 – the same original coin – but better.
So don’t miss out on this near $12M+ skyrocket presale.
Buy PEPU Here
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