PEPE coin has emerged as the biggest meme coin of 2023. Within just a few weeks of its launch, it has become one of the biggest cryptocurrencies by market capitalization. The success of PEPE con price has made many industry analysts scratch their heads as nobody saw it coming.
Any PEPE coin price prediction is tough to make at this point, as the meme coni appears to have a mind of its own. This is because the project lack fundamentals and its price action is only driven by the social media hype. Many influencers are still shilling the project on Twitter. However, our analysis shows that the top might be very close.
Is It Too Late To Buy PEPE Coin?
Pepe coin has become the third biggest meme coin by market cap. The coin has gained a market cap of around $889 million which is only second to the Shiba Inu coin’s market cap as per Coingecko. After an exponential run in the past few days, the top meme coin once again had a 56% surge.
There is a very high probability that meme coin PEPE have a major pullback after hitting a $1 billion market cap. This is because the key psychological level may make many early holders sell their bags. So far, the run from the frog-faced coin has been quite parabolic. However, the breakdown of such parabolas can get very ugly.
PEPE Coin Shrugs Of Sluggish BTC Price Action
The current rally in the meme coins is quite surprising as it comes at a time when BTC and ETH prices are trading sideways. Due to the boring price action in mainstream cryptocurrencies, ‘degens’ have flocked to meme coins to try their luck. This has resulted in a major rally in the new meme coins like Gensler, PEPE, TruthGPT, etc.
Currently, PEPE is trading in unchartered territory after hitting a new all-time high today. A simple Fibonacci level analysis gives us a PEPE coin price prediction of 0.000003016 which will be a 50% price increase from the current level. However, this price prediction must be taken with a pinch of salt, as the coin is about to hit a $1 billion market capitalization.
In the meantime, I’ll keep sharing updated outlook on PEPE in my free Telegram group that you’re welcome to join.
