Pepe price analysis
The most important thing about any meme is its supportive community. PEPE is considered one of the most famous meme currencies ever due to its nature.
This currency was famous even before it was traded because the PEPE meme is very famous in the crypto world and is widely used on the X platform.
Therefore, when a currency representing this meme was launched, the crypto community reacted quickly to it and raised its price like crazy.
Within about a month of the currency's launch in 2023, it reached $1 billion in terms of market value, even exceeded this number, and succeeded in reaching the top 50 currencies in the digital currency market in terms of the magnitude of the project.
Although the currency price underwent a very strong price correction in the second half of 2023, it eventually succeeded in rising again. Below, you can see the coin's performance on the monthly chart since its listing on the Binance platform.
Notice how the coin went through a buying period in which whales were seeking to buy without raising the price. This period lasted about 8 months until the price explosion that occurred in February 2024.
The performance of the currency in absolute terms was very disappointing at the end of 2023 because the entire market was on the rise. But this, of course, was followed by a frenzy that rose upward at a very high rate that raised the price of the currency to the top.