🐸 PEPE may cross zero when price hits 8-week high
The meme coin ecosystem is showing interesting trends, with PEPE also coming into the spotlight. According to data from CoinMarketCap, PEPE has surged 5.27% in the past 24 hours to $0.00000964 as it moves past zero.
🔸 Why PEPE Renaissance?
PEPE is an obscure meme coin; since there is no direct use case for the token but it is on a steady growth trend, it has caught the attention of even the most critical analysts.
Key metrics for the token, including trading volume, tell a different story. PEPE volume is up 3.6% at the time of writing, and is now close to $1 billion, a clear sign of strong optimism and adoption.
Despite having no intrinsic value, PEPE has commanded a dedicated community that has helped drive its price forward. After touching a low of $0.000006492 last month, PEPE has been on a steady rise, gradually trimming its losses over the past eight weeks.
At the current price mark, PEPE is down 47% from its all-time high (ATH) of $0.00001718. While a retest of this level seems out of reach, PEPE seems in tune to surpass zero and reach at least $0.00001 in the coming days.
🔸 Meme Coins Redefine Trends
PEPE came into the spotlight because it took a different approach to the meme coin system, calling itself a green-themed frog.
This uniqueness has helped it gain a huge community of loyalists within the Ethereum ecosystem. From constant whale accumulation to riding the trend with the mainstream market, PEPE has carved a shockingly sustainable path for itself.
Unlike Shiba Inu, its closest competitor, which has revealed plans to launch a stablecoin — SHI — in the battle for long-term dominance, analysts believe SHIB may stand the test of time, given the growing number of utilities it offers.
Whether the developers behind PEPE make a similar shift in the long term remains to be seen; for now, most of its investors are enjoying the price hike.
