$PEPE Will it face a big pullback?
Both SHIB and DOGE experienced a 90% price correction after their parabolic rise in 2021. Will PEPE face the same outcome?
The history of speculative markets would say yes. However, that’s not to say PEPE’s rise is over.
At the height of the frenzy in October 2021, SHIB’s market cap briefly surpassed DOGE, peaking at a market cap of $45 billion. At $4.7 billion, PEPE is now half the market cap of SHIB and one-fifth the market cap of DOGE. It wouldn’t be surprising to see it surpass both at some point, even if only briefly.
Another data point worth watching is the number of daily active users on Uniswap on Ethereum. This number has more than doubled since PEPE’s launch and is now fast approaching its all-time high of 90,000 daily users in May 2021.
The integration of Uniswap mobile wallets has improved since 2021, and if PEPE's attention continues to increase, it may set a new daily user record.
