Bittime – Pepe Coin (PEPE) is one of the rising meme coins in the crypto market. In the past week, the price of PEPE soared by 145%, reaching an all-time high of $0.000009018 on March 3, 2024. However, the rise did not last long, as the Pepe coin has now corrected 12% in the last 24 hours, being at the level of $0.000006112.
What causes Pepe coin to rise rapidly? Does the Pepe coin still have the potential to go higher? And what is the Pepe coin price prediction for the future? This article will cover these using up-to-date data and analysis.
What Are Pepe Coins?
Pepe Coin is a meme coin inspired by the famous internet character, Pepe the Frog. Pepe the Frog is a meme derived from Matt Furie's The Boy's Club comic, which became popular in the early 2000s. Pepe the Frog has many variations, such as Rage Pepe, Sad Pepe, and Pepe Gigachad, which are often used to express certain emotions or attitudes.
The Pepe coin was launched on April 19, 2023 as a tribute to Pepe the Frog. Pepe Coin aims to be the most memorable meme coin in existence, and build a strong community around the coin. Pepe coins also have a unique burn mechanism, which means a portion of each transaction will be burned or removed from circulation, thus increasing the rarity and value of Pepe coins.
The Pepe coin operates as an ERC-20 token on the Ethereum blockchain, which means it can be transacted on various platforms and exchanges that support the Ethereum token. Pepe coins also use a Proof-of-Stake (PoS) consensus mechanism, which means Pepe coin holders can maintain the network by depositing their coins, and earn rewards in the form of new Pepe coins.
Check the Crypto Market Today:
Causes of PEPE Price Increase
There are several factors that have driven the rise in the price of the Pepe coin in the past week. One of them is the meme coin trend that is booming in the crypto market, which is fueled by the popularity of Dogecoin (DOGE) and Shiba Inu (SHIB). Meme coins are crypto coins inspired by internet memes, which usually have low intrinsic value, but have high community appeal. Meme coins are often subjected to speculative trading, which can lead to large price spikes in a short period of time.
Another factor driving the price increase of Pepe coin is the uniqueness and distinctiveness of the coin. The Pepe coin has the legacy of Pepe the Frog, which is one of the most famous and controversial internet memes. Pepe the Frog has a huge fan following and followers on various social media platforms, such as Reddit, Twitter, and 4chan. Pepe coins also have an interesting burning mechanism, which makes Pepe coins even more rare and valuable.
In addition, the Pepe coin has also received support and promotion from several crypto figures and influencers, such as Jacob Crypto Bury, a crypto analyst and YouTuber who has more than 100 thousand subscribers. Jacob Crypto Bury often makes videos about Pepe coin price predictions, and provides trading advice to his followers. Jacob Crypto Bury also runs a Discord community with 21k members, where he shares insights and information about the upcoming crypto presale.
PEPE coin Price Prediction
Pepe coin price predictions depend heavily on market sentiment, demand and supply, as well as general meme coin trends. The Pepe coin has the potential to go even higher if its community continues to grow and be active, as well as if the Pepe coin gains more exposure and adoption in the crypto market.
However, the Pepe coin also carries a high risk, due to the volatility and speculation inherent in meme coins. The Pepe coin may experience a sharp decline if there is a change in negative sentiment, competition from other meme coins, or technical or security issues on the network or platform that supports the Pepe coin.
To analyze the Pepe coin price prediction, we can use several available data and indicators, such as price, volume, market cap, fear and greed index, moving averages, pivot, support, and resistance levels, as well as technical indicators such as MACD.
Also Read How to Buy Crypto:
Pepe Coin Data and Indicators
The following are some Pepe coin data and indicators as of March 6, 2024:
- Current Price: $0.000006112
- 24-hour change: -12%
- 7-day change: +145%
- 24-hour volume: $3.20 billion
- Market capitalization: $2.57 billion
- CoinMarketCap Rank: 43
- Fear and Greed Index: 90 (Extreme Greed)
- 200-Day Simple Moving Average: $0.0000045
- Pivot Level Today: $0.000006954
- Support Levels: $0.000005680 and $0.000003066
- Resistance Levels: $0.000008294 and $0.00001091
- MACD: Neutral, with the possibility of bearish convergence
From the above data and indicators, we can see that the Pepe coin has high interest and momentum, but is also facing significant selling pressure and corrections. The Pepe coin is still in a positive trend, as it is trading above its 200-day simple moving average, but it is also at risk of dropping below pivot or support levels if it cannot sustain the current price level.
The Fear and Greed Index shows that the Pepe coin market is very bullish, but it is also prone to reversals or declines. This index measures the emotional sentiment of investors, where high values indicate excessive greed or optimism, and low values indicate excessive fear or pessimism. This index ranges from 0 to 100, where 0 means extreme fear, and 100 means extreme greed.
Check Crypto Price Today:
Conclusion
Pepe coin has the potential to go higher if its community continues to grow and be active, as well as if the Pepe coin gains more exposure and adoption in the crypto market. However, the Pepe coin also carries a high risk, due to the volatility and speculation inherent in meme coins.
The Pepe coin may experience a sharp decline if there is a change in negative sentiment, competition from other meme coins, or technical or security issues on the network or platform that supports the Pepe coin.
How to Buy Pepe Coin (PEPE) on Bittime
You can buy and sell Pepe Coin (PEPE) in an easy and secure way through Bittime. Bittime is one of the best crypto applications in Indonesia that has been officially registered by Bappebti.
Pepe Coin (PEPE) is available on Bittime with the PEPE/USDT market pair. To be able to buy PEPE USDT on Bittime, make sure you have registered and completed identity verification. In addition, also make sure that you have enough balance by depositing some funds into the wallet. For your information, the minimum asset purchase at Bittime is Rp10,000. After that, then you can make a crypto asset purchase in the application.
Learn the complete guide on how to buy PEPE (PEPE) on Bittime.
Monitor the price chart movements of Pepe Coin (PEPE), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
Also Read:
PEPE Jumps 414% in a Week, But Beware Before Investing
PEPE Price Rises 250% in a Week, Other Meme Coins Rise
PEPE Meme Coin Soars 54%, Swipes Dogecoin and Shiba Inu
DISCLAIMER: This article is informational in nature and does not constitute an offer or solicitation to sell and buy any crypto asset. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices may change significantly from time to time and Bittime is not responsible for fluctuations in crypto asset exchange rates.
Comments
0 comments
Please sign in to leave a comment.