In the last bull run of the cryptocurrency market, DOGE and SHIB were crowned as the first and second generation billion-level memes, with peak market capitalizations reaching an astonishing $100 billion and $50 billion, respectively. As the current bull market continues to heat up, a new question has surfaced: Will there be new meme coins emerging and joining the ranks of billion-level market capitalizations? Currently, PEPE is showing a strong momentum of rise, and the following are the key factors driving its market value growth:
Super bull market breeds super meme
This round of bull market is driven by multiple favorable factors such as the launch of ETFs, Bitcoin halving and interest rate cuts. Bitcoin is expected to set a new record and the price of the cryptocurrency market continues to rise. According to conservative estimates, the market value of the currency circle will reach 6 trillion US dollars. If the Meme coin market occupies 2% of it, its total market value will be as high as 120 billion US dollars. In this case, new Meme coins such as PEPE are very likely to emerge and form a three-legged competition pattern with DOGE and SHIB.
PEPE has a profound cultural heritage
The core of Meme coin lies in social consensus, and PEPE has a particularly deep cultural foundation. It originated from the (Boys Club) in 2005 and was deeply rooted in people's hearts earlier than Doge. Pepe is popular on Meme culture websites such as 4chan, and has a large number of fans in both the East and the West, forming a broad cultural consensus.
PEPE's History and Chip Dispersion
PEPE has attracted much attention since its launch on Binance. Although it has experienced team splits and a 10-month downturn, this process has also screened out true believers for PEPE, heralding its potential for explosive growth.
Favored by capital and hot money
PEPE has all the elements to attract capital and hot money: a broad cognitive base, dispersed chips and good market depth. In a bull market, capital and hot money tend to look for high-potential, low-value investment projects, and PEPE is such a high-quality project, which is expected to become a market hotspot and drive its price to continue to rise.
Potential positive factors
The rise of PEPE is not accidental. It is backed by the firm support of investors and market makers. As PEPE's influence continues to expand, more capital and exchanges may join its camp. At present, Coinbase and Robin Hood Exchange have expressed strong interest in PEPE, and the optimism of these platforms is expected to further increase the market value of PEPE.
Observation: PHB, TRB, ENA and Dogecoin (DOGE) are also worth paying attention to, but PEPE is undoubtedly the brightest star at the moment.
