Pepe Millionaires Dump Coins to Snag a Spot in This New Pepe Project
Sam is a financial journalist with a focus on cryptocurrency market news, based in London. With a Master’s Degree in Development Management from the London School of Economics, Sam’s passion for...
Pepe (PEPE) was one of the most exciting (and profitable) new meme coin launches of 2023, yet, with a multi-billion market cap success, many are saying its best days are behind it.
In this article, we dive into the latest Pepe price trends and investigate whether a newer meme coin could be the hottest addition to the meme coin market.
$PEPE has more daily volume than $DOGE and $SHIB combined.
Meanwhile, $DOGE's market cap is almost 5x bigger than $PEPE.
Should PEPE be valued as much as DOGE or SHIB? pic.twitter.com/uxLGwRqN7p
Despite the somewhat ‘Blue Chip’ nature of Pepe today, the coin remains a favorite amongst traders, as seen by its incredibly high volume – which almost triples rival coins such as FLOKI and SHIB.
This could perhaps be explained by PEPE’s unique status as the only frog coin in the top 6 meme coins, which stands out in a dog-eats-dog world.
Jumping into the PEPE price chart, it can be seen that the coin is currently trading at a market price of $0.000007 (representing a 24-hour change of -1.55%).
This comes as Pepe continues to track the broader market decline, which has left the price at a miserable -9.5% month-on-month, and an even worse -45% decline over the past 3 months.
Yet, despite this downturn in price, PEPE remains poised, with a market cap defiant above $2.9Bn.
Localized price action paints a bleak view; while still trading above the lower support level at $0.000006, the meme coin has been in serial decline over the past month, with high volatility, as shown in the Bollinger bands.
Worse still, price action
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