- Pepe Coin (PEPE), a prominent meme cryptocurrency, saw a 6% drop in price over the past 24 hours and is currently trading 16% below its recent all-time high.
- PEPE’s market cap took a hit, dropping to $10 billion, making it the 20th largest cryptocurrency.
- Market predictions suggest PEPE could trade around $0.00001316 on Christmas Day, a significant fall from its current price, but overall market growth could potentially lead to an uptick in the PEPE network.
Meme coins have made a significant mark in the cryptocurrency market, with canine-themed coins primarily dominating the scene. However, PEPE Coin, inspired by a frog meme, has recently stood out. The coin’s rising price and market value have begun making waves in the cryptocurrency world, with its market cap surpassing the $10 billion mark. This new player even overtook established cryptocurrencies like Uniswap (UNI) and Litecoin (LTC). However, the pace of PEPE’s rise seems to be slowing. The question now is whether it will recover in time for Christmas.
PEPE Coin’s Recent Performance
At the time of writing, PEPE was trading at 0.00002385, a drop of 6% over the past 24 hours. Importantly, just two days ago, on December 9, the asset hit an all-time high of 0.00002825. Currently, it trades 16% below this peak. Despite this, the asset has surged nearly 100% over the past month. In terms of market cap, the asset suffered a significant loss due to the 6% drop, now sitting at $10 billion. PEPE currently ranks as the 20th largest cryptocurrency in the market.
December Prediction for PEPE Coin
As we approach the end of a volatile year, market predictions anticipate a bullish note. According to data from CoinCodex, PEPE Coin is forecasted to trade in a range between 0.00001007 and 0.00002250 in 2024. This translates to an average yearly price of 0.00001542. Compared to the current rates, this could potentially yield a return on investment of -55.2%. Amid this anticipated decline, investors could profit from unfavorable activity by shorting PEPE.
On Christmas Day, which falls on December 25, the meme coin could be traded at 0.00001316 – a significant fall compared to the current price of the asset. However, overall market growth could result in a potential uptick in the PEPE network.
Conclusion:
While the future of PEPE Coin seems uncertain, the cryptocurrency market’s volatility offers opportunities for investors. As the Christmas season approaches, it will be interesting to see how PEPE Coin performs and whether it will manage to end the year on a high note. As always, investors are advised to conduct thorough research and consult with a licensed financial advisor before making investment decisions.
