Pepe Coin’s 390% Boom: Next Big Crypto?

On Jul 19, 2024

Pepe has seen a whopping 390% boom, which caught everybody’s attention, and price speculations popped up. This PEPE boom has made this token a potential market mover. Both investors and analysts are considering its future trajectory.

Also Read: Shiba Inu or Pepe Coin: Which Cryptocurrency Can Reach $0.01 First?

Inside the PEPE Crypto Boom: What’s Next?

Analyzing PEPE’s Explosive Growth

The chart above shows the coin’s remarkable price movement, which started in August 2023 and held until July 2024.

A dramatic surge can be seen starting around February/March 2024, with the price increasing drastically from near-zero to around 0.000017 EUR. As we can expect from meme coin markets, this radical growth is also affected by volatility.

What Are the Factors Driving the PEPE Crypto Boom?

Market Speculation and FOMO

The fear of missing out (FOMO) is a fundamental element for this topic, as this process has fueled PEPE’s rapid price appreciation.

Meme Culture and Social Media Influence

PEPE’s popularity has been sustained by its connection to internet meme culture. Social media platforms play an important role in the meme coin market, but especially with PEPE.

Also Read: Rally: The Rise of a New Meme Coin

The Coin’s Market Performance

Price History and Milestones

PEPE has seen a 666.20% increase over the past year. Its price has ranged from €0.00000057 to €0.000015.

Key milestones include:

August 2023: The meme coin was trading at near-zero levels
February 2024: The initial surge begins
April 2024: The coin reaches an all-time high of €0.000015
May 2024: 30-day trading volume passed $7 million on major exchanges
July 2024: Market cap surpassed $4.4 billion

Comparison with Other Meme Coins

PEPE’s growth has been remarkable, but it’s important to understand the context of this growth:

Dogecoin (DOGE) – The original meme coin has shown more stability but lower growth than our frog coin
Shiba Inu (SHIB) – It had a similarly explosive growth in its early days but has stabilized
Floki Inu (FLOKI) – A newcomer that has shown comparable volatility to PEPE but with a lower overall growth
BONK: This Solana-based meme coin grew as fast as PEPE but on a different blockchain ecosystem

The coin’s performance, even though very impressive, follows a pattern that’s normal for meme coins. These are rapid growth followed by high volatility.

Also Read: Unleashing the Future of Meme Coins with Layer 2 Speed and Double Staking Rewards

Future Outlook for PEPE

Potential Risks and Challenges

Regulatory scrutiny: The increase in government oversight could affect trading and valuation
Market saturation: The creation of new meme coins might dilute interest in PEPE
Lack of utility: PEPE’s value relies heavily on speculative interest, as it doesn’t have any real-world use cases
Whale concentration: Large holders could affect the price if they decide to sell
Tech Vulnerabilities: It faces some potential security risks and smart contract vulnerabilities

Long-Term Price Prediction

It is complicated to make a long-term price prediction about PEPE because of its high volatility. Some experts mentioned that if market enthusiasm is maintained, it could reach €0.00005 by 2025.

We’re not surprised that the PEPE crypto boom has turned some heads in the crypto world. Even though the meme coin’s 390% surge has been impressive, investors should approach an investment decision cautiously.