PEPE, a newer meme cryptocurrency, is gaining traction as it follows a trajectory reminiscent of Dogecoin's remarkable rise. While Dogecoin started as a lighthearted project based on the popular “Doge” meme, it gained significant momentum in 2021 when Elon Musk openly endorsed it. This endorsement, paired with Musk's promotion of Dogecoin as the “people’s crypto,” triggered a massive price surge. Furthermore, Musk helped Dogecoin gain utility by having Tesla and SpaceX accept it as payment, solidifying its place in the cryptocurrency market.
Now, PEPE appears to be following a similar path. Originating from the widely recognized “Pepe the Frog” meme, PEPE was launched in April and has already seen substantial growth. Elon Musk’s influence plays a pivotal role in PEPE’s success, with his social media posts, such as a meme featuring Pepe, directly impacting the coin's popularity. If Musk were to formally back PEPE, it could potentially reach new heights, similar to how Dogecoin was propelled to mainstream recognition. Speculation even suggests that companies like Tesla might consider accepting PEPE for payments, further boosting its legitimacy.
However, for PEPE to maintain its upward trajectory, it may require more than just hype. While Musk’s endorsement has already led to impressive short-term growth, including a significant 54.7% price increase after a recent tweet, the sustainability of PEPE's rise hinges on continued interest and broader adoption. Like Dogecoin, PEPE’s value may heavily depend on the ebb and flow of online attention and trends. Although PEPE has surged in recent weeks, analysts are keeping a close watch on the coin’s potential to maintain its momentum and achieve a valuation comparable to Dogecoin's.
The coin has shown impressive gains, with a market cap growing from $600 million to over $8 billion in a relatively short period. Analysts predict that PEPE could reach between $40 billion to $125 billion in value during the 2025 bull market. Additionally, its trading volume has surpassed that of Dogecoin in recent days, signaling increasing investor interest. PEPE’s rise also mirrors Dogecoin's early stages, with similar chart patterns suggesting the coin could continue to climb. As PEPE's popularity grows, additional meme-themed projects, like Pepe Unchained and Wall Street Pepe, are further fueling the hype, making PEPE a coin worth watching in the coming months.