BABY
At $0.00101, $PEPE’s market cap is $420 billion, comparable to Ethereum’s $450 billion.
Likewise, at $0.000167, its market cap was $69 billion, on par with Solana’s $80 billion. Meanwhile, at $0.000101, $PEPE’s market cap reached $42 billion, surpassing USDC’s $33 billion.
Finally, at $0.0000167, its market cap was $6.9 billion, which is very close to Litecoin’s $6.4 billion market cap.
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WIF rose 9% in the past 24 hours, encouraged by the good news of Ethereum spot ETF
The price of WIF has also risen along with the crypto market. The current price of WIF is $3.01, with a 9% increase in the past 24 hours.
Brief insights on Pepe (PEPE), Shiba Inu (SHIB), and Dogecoin (DOGE):
Pepper (PEPE)：
Pepe is currently trading at $0.00001333 with a market cap of around $4.69 billion and a daily trading volume of $1.623 billion. The token is up 26.79% over the past week but would need to gain 221.8% to reach SHIB’s market cap.
Shiba Inu (SHIB):
Shiba Inu is valued at $0.00002553, with a market cap of around $15.05 billion and daily trading volume of $786.95 million. It is showing a bull flag pattern, suggesting a possible consolidation ahead.
Dogecoin (DOGE):
Dogecoin is priced at $0.1659 and has gained 6.87% in the past week. It is showing signs of an imminent rebound, indicated by the symmetrical triangle pattern. It is currently facing significant resistance at $0.1545, with the 50-day exponential moving average acting as support at $0.1513. If these resistance levels are breached, the target price will be set at $0.3.
PEPE's inherent communication properties give it a unique comparative advantage, and it has already succeeded in community and cultural narratives, occupying a place in the MemeCoin market. The continued hype of PEPE by a large number of whales also provides a certain growth foundation for PEPE's long-term development.
In terms of current market value, compared with DOGE and SHIB, PEPE is relatively undervalued and has the opportunity to achieve higher growth in the big cycle market.
PEPE's performance has surpassed Doug and SHIB for 3 consecutive months
Pepe Price has hit a new all-time high for the second week in a row, surpassing Dogecoin (DOGE) and Shiba Inu (SHIB), memecoins with larger ecosystems of long-term supporters.
PEPE’s price surge this week has pushed its market cap past the $5.5 billion mark, bringing it closer to DOGE ($25 billion) and SHIB ($15 billion) among the world’s top three memecoin projects.
The price of PEPE continues to please its holders as the memecoin not only leads the altcoin rally but also hits a new all-time high in the past 24 hours.
However, this could trigger altcoins to fall as investors appear ready to sell.
PEPE investors are about to sell
As PEPE prices rise, the coinmeme coin appears poised to see some major sell-offs as altcoin investors realize huge profits. Overall earnings have been tilting over the past month, according to the network's realized profit and loss metric.
Realized profits are a sign that investors are selling, which may now be exacerbated as memecoin hits new all-time highs. This appears to have saturated bullish sentiment and could lead to heavy selling.
Secondly, the market value to realized value (MVRV) ratio also hints at profit taking. The MVRV ratio monitors investors’ profits and losses. Since PEPE’s 30-day MVRV is 38%, indicating profitability, a sell-off may be in the cards.
Historically, Memecoin has experienced corrections in MVRV levels of 15% to 36%, marking it as a danger zone. PEPE is already above that level, which means there is stronger profit-taking potential.
If this happens, the altcoin could fall below critical support levels.
Can PEPE achieve a hundredfold growth?
As of May 23, when this article was written, the price of PEPE reached $0.00001447! The market value reached $6.086 billion. If it grows 100 times, Pepe's market value will reach $608.6 billion!
Almost all cryptocurrency experts agree that, at least in the short term, Pepe has little chance of reaching such a high market cap.
Ethereum (ETH), the cryptocurrency that supports the most widely used and adopted smart contract blockchain, currently has a market value of just over $450 billion.
PEPE Price Prediction: Target is $0.000020
As of May 23rd, the price of PEPE has reached $0.00001447! According to the latest data, if the memecoin sector surges again in the next phase of the market rebound, investor preference for PEPE may push it towards the $0.000020 target again.
Bollinger technical indicators also support the bullish forecast for PEPE prices. Although PEPE prices have pulled back 15%, they are still running above the key support level of $0.000012, the upper limit of the Bollinger Band.
This situation suggests that bulls are still dominating short-term market momentum despite a slight 4% correction in PEPE prices from the all-time highs set earlier in the day.
If the SEC approves an Ethereum ETF and memecoin traders enter a new buying frenzy, PEPE prices could surge above $0.000020 as predicted.
However, if the market enters a correction phase, PEPE price might find initial support in the $0.000010 area.
Should I hold PEPE for the long term or get off?
PEPE is a meme coin, and the truth behind the rise of this type of currency has been discussed before.
Judging from the historical price trend of PEPE, although the price has fluctuated, the overall trend may be affected by the overall performance of the cryptocurrency market.
In addition, the market prospects and application scenarios of PEPE need to be considered. Although PEPE has some unique characteristics and advantages, such as being used as a means of payment on e-commerce platforms and for purchasing virtual goods in the gaming field, its market competitiveness and market value cannot be ignored. If PEPE can continue to expand its application scenarios and increase the number of users, its future price is expected to rise.
Investors should also pay attention to PEPE's community support and mining opportunities. PEPE's large community is a major advantage and can provide continuous impetus for its development. At the same time, PEPE adopts the PoS consensus mechanism, and participants can get rewards by holding and staking PEPE coins, providing users with mining opportunities. These factors may have a positive impact on the price of PEPE.
My suggestion is: if there is no pullback in the short term, you can consider selling to make a profit. If there is a pullback of about 8% to 10% in the near future, you can consider holding for the long term.
