💰💰💰💰Is PEPE the Biggest Memecoin of 2024 🤖💰💰💰💰
PEPE reached a new all-time high on May 15, with its market cap approaching $5 billion, making it the third-largest meme coin. It could become the leading asset in its category if it maintains its price momentum, gains community support, and secures influential endorsements, according to ChatGPT.
**PEPE’s Prospects**
The frog-themed meme coin, Pepe (PEPE), has surged in popularity recently due to its rapid price increase. It achieved a new all-time high on May 15, with its market capitalization nearing $5 billion. This rise positioned PEPE as the third-largest meme coin, following Dogecoin (DOGE) and Shiba Inu (SHIB).
To explore whether PEPE's rally can persist through 2024 and if it can become the leading meme coin, we consulted ChatGPT. The AI-powered chatbot identified several key factors that could drive this shift, with market momentum being the primary one:
“If PEPE continues its current trend of significant price increases and outperforms other meme coins in terms of market cap and trading volume, it could become the leading meme coin.”
Other crucial elements include community support and endorsements from influential figures. A study from the end of last year noted Shiba Inu (SHIB) as having the most robust supporter base among meme coins, with PEPE in third place.
Endorsement from prominent individuals is also significant. For instance, Tesla’s CEO Elon Musk favors Dogecoin (DOGE), which might contribute to its dominance as a meme coin. Recently, however, Musk posted a controversial picture on X of a frog dressed as a soldier, which some industry participants interpreted as a pro-PEPE gesture.
**PEPE’s Rapid Ascent**
Launched in April 2023, the meme coin quickly became a sensation. Its rising popularity in subsequent months coincided with its price surge and support from leading cryptocurrency exchanges.
