Is it Possible for PEPE’s Price to Double from June Lows and Reach a $1 Billion Market Cap Again?
PEPE, the meme coin, has experienced a significant recovery after a month-long decline following its impressive rally in May. The frog-themed cryptocurrency has grown over 100% from its lows in June, surpassing other popular meme coins like Dogecoin and Shiba Inu. This recovery has rejuvenated the PEPE community, leading to speculations that the meme coin could reclaim its $1 billion market cap soon.
PEPE’s recent rally has put its market cap at $699 million, making it the third-largest meme coin. However, it still has a long way to go to reach its previous market cap of $1 billion, which it achieved in May. To achieve this, significant developments such as a listing on US-based crypto exchange Coinbase would need to occur.
Currently, the meme coin is maintaining its hold on last week’s gains, with a 15.69% increase already on the weekly chart. As long as support above $0.0000017 is maintained, there is a high chance that PEPE will continue to rally.
Coinmarketcap ranks PEPE as the number one trending token on the platform and it sits in third place on the list of highest gainers over the last day. This positive sentiment and strong performance have been triggered by factors like BlackRock filing for Bitcoin Spot ETFs.
Overall, investor sentiment indicates that there may be more to come for PEPE as it continues to perform well in the crypto market. The meme coin’s recovery and potential for reclaiming its $1 billion market cap have caught the attention of traders and investors. However, it will depend on further developments and support from the community to sustain and potentially exceed its current growth trajectory.
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