PEPE coin price is testing the patience of the holders as it lags behind the relatively new memecoins like BONK and WIF. The recent surge in Bitcoin price has once again triggered a huge wave of investor interest in dogcoins.
Crypto enthusiasts are betting on new coins everyday based on the social media hype. As these memecoins don’t have any fundamental value, their price action is purely driven by the greed in the markets. A major example in this regard is BONK crypto which has emerged as the flagship meme of this crypto rally.
However, PEPE crypto has failed to show any significant growth compared to the best performing digital assets. While it is up 21% on the monthly timeframe, it still got dethroned by BONK as the latter’s market capitalization exceeded former’s. Consequently, PEPE slipped to the 4th rank in the list of most valuable memecoins.
The hype of Bitcoin spot ETF is hitting its peak as its approval almost seems imminent now. On Monday, asset manager Bitwise released a commercial for its BTC spot ETF which led many analysts believe that the approval could be very near.
As speculated in my last analysis, PEPE/USD faced a rejection from $0.00000149 level last week, which is the middle of the current trading range. While PEPE coin price prediction has not flipped bearish yet, there is a very strong chance of a retest of the range lows around $0.00000108.
