Since the launch of the PEPE coin in 2023, it has been the talk of the town. This coin has succeeded in bringing the meme story back to life in the world of digital currencies. And because of PEPE, there has been a strong recovery in the token market.
Strongly in mid-2023, which eventually led to the meme frenzy that occurred in early 2024. Since the listing of the PEPE coin on the Binance platform, it is considered one of the most famous coins in the crypto market, so let us know more about the PEPE coin expectations in the last quarter of 2024.
In this article
PEPE Coin Price Analysis
PEPE Coin Weekly
PEPE coin performance on daily level
How much can PEPE coin increase?
Could a PEPE reach $1?
PEPE Coin Price Analysis
The most important thing that distinguishes any meme coin is its supportive community. The PEPE coin is considered one of the most famous meme coins ever due to its nature. This coin 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 coin representing this meme was launched, the crypto community quickly interacted with it and raised its price like crazy. Within about a month of the coin’s launch in 2023, it reached 1 billion in terms of market value. It even exceeded this number and succeeded in reaching the top 50 coins in the digital currency market in terms of the size of the project.
Although the price of the coin was subjected to a very strong price correction in the second half of 2023. However, it eventually managed to rise again. Below you can see the performance of the coin on the monthly chart since its listing on the Binance platform until now.
Notice how the coin went through a buying period where whales were trying to buy without raising the price. This period lasted for about 8 months until the price explosion that occurred in February 2024. The performance of the coin in general was very disappointing at the end of 2023 because the entire market was on the rise. But this was of course followed by a very high upward madness that pushed the price of the coin to the top.
After that, another sharp price drop occurred in the last six months, but notice how this time the bottom was much higher than the previous time. Finally, the explosion occurred in November, after the announcement of the coin being listed on Coinbase and Robinhood. Also, which led to the PEPE coin expectations exploding into the sky due to the hysterical price rise.
PEPE Coin Weekly
If we look at the weekly chart of the currency, we will notice that it underwent a rather violent correction at the end of May, and notice how this correction continued until almost the end of October.
But looking at the chart, it is clear that this drop is just a price correction in an uptrend. This means that the price was supposed to go back up after forming a temporary bottom. This actually happened after the price formed a bottom in August along with other cryptocurrencies.
The price has managed to break the previous high and take off to 0.000022390, which is about 50% more than the previous high. Most of this increase was due to the news of listing on American platforms again. Which made the memes crazier than before, and we are currently noticing the rise of memes across the cryptocurrency as a whole, not just the PEPE coin. This means that the PEPE coin forecast for the coming period is very optimistic, especially for those who bought in the last drop in August.
PEPE coin performance on daily level
PEPE coin forecast may be optimistic now, but we must take into account the recent price explosion that led to the new launch and the formation of a new price peak. However, we do not currently recommend buying the coin after this crazy rise, as the market value has currently reached $9.5 billion, which is a very high number. Despite this, the coin may continue to rise until it achieves record gains, so you must be careful and do not risk a lot of your capital in this coin now.
Remember that there are a lot of meme coins in the market right now and these coins are outperforming Bitcoin right now due to the meme season that has been going on since the beginning of the year. This means that capital will be rotated from Pepe to other coins soon. This has already started happening with a lot of other meme coins so be smart and don’t give in to FOMO.
If any test of the previous PEPE price peak occurs, we explain by trying to monitor the price performance at this point, as it will be a good area for new capital to enter the currency, pushing the price up again in what we expect to be the last upward push.
How much can PEPE coin increase?
We expect PEPE coin to be the best meme coin. But that doesn’t mean it will become more valuable than Dogecoin. But we expect that it is very possible that the market cap of the coin will become more valuable than Shiba Inu even temporarily. This means that the price of Baby could reach $0.000030, which is a very high number. We expect that this could very well happen during the rest of this year and the price of the coin could also go beyond this point and reach $0.00010, but we are not sure about this prediction. This would require a huge amount of liquidity to be pumped into the coin to increase its price to this extent. However, since the market is currently experiencing a strong recovery, anything is still possible. However, we should not forget that there are also a lot of meme coins in the market right now. Therefore, this means that the flowing liquidity will find a lot of coins to enter it, so why choose Baby in particular?
Could a PEPE reach $1?
It is very important to set realistic targets when analyzing cryptocurrencies, especially meme coins. Therefore, a PEPE price prediction that suggests it will reach $1 is completely unreasonable. Since this would mean a 1000x increase from the current price. This would make the market cap of the coin larger than the entire crypto market.
Therefore, this goal is completely illogical and does not align with the logical goals of the coin even in this crazy period currently. But as we said, it is realistic for this coin to become the second largest meme coin after Dogecoin and there may even be a chance to become the number 1 meme coin. However, we do not expect an increase of more than 100-200% from the current price even at the top of the bull market. This is because most of the gains of the coin have already been achieved in the previous rise that occurred at the beginning of the year. If the market value of PEPE coin happens to be higher than that of Dogecoin, then it will be an ideal time to completely exit it and finally, as this will represent the top from our point of view. Do not forget the rule of market value and its effect on the price when making price predictions in dollars, and you can review our article on market value to understand more.
Always remember to make your goals logical and realistic so that you do not lose.
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