Pepe Down 9% But Being 'Top Meme That Isn't A Dog' Allows It To 'Do Stupid Things Potentially,' Says Trader
Portfolio Pulse from Khyathi Dalal
Cryptocurrency trader Altcoin Sherpa views Pepe (CRYPTO: PEPE) as a promising Ethereum meme coin for 2024-2025, despite a recent 9% drop. Pepe's liquidity, trading volume, and potential for price growth were highlighted, alongside concerns about competition from other meme coins. Pepe's market cap grew fivefold to nearly $3 billion, trailing behind Dogwifhat and Shiba Inu in market capitalization. The speculative nature of meme coin investments was emphasized, with a recent tweet from Bitget comparing Pepe's valuation to JPMorgan.
April 02, 2024 | 6:19 pm
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POSITIVE IMPACT
Pepe (CRYPTO: PEPE) is considered a promising investment for 2024-2025 by Altcoin Sherpa, despite recent volatility. Its substantial liquidity, trading volume, and potential for price growth were noted, with a significant market cap increase.
Pepe's significant market cap growth and its position as a top Ethereum meme coin with substantial liquidity and trading volume suggest a positive outlook. However, competition from other meme coins and the speculative nature of the market introduce volatility, making its short-term impact positive but with caution.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100