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- PEPE reached a new all-time high on May 15 with a market cap approaching $5 billion, making it the third largest meme coin.
- It can become the leading asset in its space if it maintains price momentum, gains community support, and receives influential endorsements (according to ChatGPT).
What are Pepe's chances?
The frog-themed meme coin – Pepe (PEPE) – has gained more popularity in the past few days thanks to a rapid increase in its price. like CryptoPotato mentioned, reaching a new all-time high on May 15, while its market capitalization approached the $5 billion mark. The increase has ranked PEPE as the third largest coin in the world of memecoins, behind Dogecoin (DOGE) and Shiba Inu (SHIB).
We decided to ask ChatGPT if his rise could continue throughout 2024 and if he could become the leader of his group.
This AI-powered chatbot has identified several key factors that could lead to such a shift, with market momentum being the main factor:
“If PEPE continues its current trend of significant price increases and outperforms other meme currencies Terms Market capitalization and trading volume, it can become the leading meme currency.
Other necessary elements include community support and endorsements from influential figures. It is worth noting that a study was conducted at the end of last year Shiba Inu (SHIB) As the meme with the most solid support base, PEPE takes third place.
Speaking of support from prominent individuals, one should mention that Dogecoin (DOGE) is the favorite cryptocurrency of Tesla CEO, Elon Musk. This may be among the reasons why the asset is the most popular meme currency.
Not long ago, though, one of the richest people to publish A controversial image on X depicts a frog dressed as a soldier. Some industry participants described the activity as a pro-PEPE move.
PEPE's success in just one year
The meme saw the light of day in April 2023, and became a viral sensation almost immediately. interest In it quickly more In the following months, coinciding with rising prices and support from leading cryptocurrency exchanges.
Some of the giant companies that allow trading services include PEPE BinanceBybit, OKX, Coinbase, Bitget and many more.
The icon's impressive rise in a short period a period of time maybe Smart traders to make big profits. However, investors should too to remember The volatile nature of PEPE and the entire meme sector before entering the ecosystem, where they may experience devastating losses. If you want to protect yourself from some common mistakes related to the topic, please watch the dedicated video below:
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