Pepe: On the verge of a breakout?
Launched in 2023 to much fanfare, Pepe is a well-known ERC20 crypto and one of the top meme coins on the market. It’s currently ranked as the 26th most-valued project at a $3 billion market cap. After a resurgence in meme coins earlier in 2024, Pepe topped crypto investment lists, reaching a huge $7 billion market cap and jumping from $0.00000129 at the start of the year to an all-time high of $0.000017 in May—a rise of almost 1,200%.
PEPE is held by more than 280,000 investors, and its popularity—besides its famous Pepe the Frog mascot—comes from a strong community focus, a lack of buy or sell tax and a deflationary model that gradually restricts its supply.
However, that hasn’t stopped PEPE from declining sharply as a crypto investment. As of September 2024, PEPE is worth $0.0000072, marking an almost 60% tumble, but some analysts believe this could be a consolidation phase before a further breakout.
PEPE whales recently conducted 121 transactions in just a single day on the 11th of September, contributing to a shift of more than 10 trillion PEPE. Could this be an indication of an imminent breakout, or will Raboo steal the spotlight? #BinanceLaunchpoolCATI #BinanceLaunchpoolHMSTR #GrayscaleXRPTrust
