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Could Pepe (PEPE) become the biggest meme coin in 2024? (ChatGPT Replies)
DR
- PEPE reached a new all-time high on May 15, with a market value close to $5 billion, making it the third largest meme coin.
- It could become the top asset in its domain if it maintains its price momentum, gains community support and receives influential endorsements (according to ChatGPT).
What are PEPE’s chances?
The frog-themed meme coin – Pepe (PEPE) – has gained even more popularity in recent days thanks to its rapid price increase. Like CryptoPotato reported, reached a new all-time high on May 15, while its market capitalization approached the $5 billion mark. The surge positioned PEPE as the third largest in the meme coin realm, behind Dogecoin (DOGE) and Shiba Inu (SHIB).
We decided to ask ChatGPT if its rally can continue throughout 2024 and if it can become the leader of its group.
The AI-powered chatbot outlined several key factors that could trigger such a shift, with market momentum being the main one:
“If PEPE continues its current trend of significant price increases and surpasses other meme coins in terms of market cap and trading volume, it could become the leading meme coin.”
Other necessary elements include community support and endorsements from influential figures. It is worth mentioning that a study carried out at the end of last year positioned Shiba Inu (SHIB) as the meme coin with the most solid supporter base, while PEPE came in third.
Speaking of support from prominent individuals, it should be mentioned that Dogecoin (DOGE) is Tesla CEO Elon Musk’s favorite cryptocurrency. This could be one of the reasons why the asset is the most dominant meme coin.
Not long ago, however, one of the richest people posted a controversial image on the X depicting a frog dressed as a soldier. Some industry participants described the activity as a pro-PEPE movement.
PEPE’s success in just one year
The meme coin saw the light of day in April 2023, becoming a sensation almost immediately. Interest increased rapidly in the following months, coinciding with price recovery and support from major cryptocurrency exchanges.
Some giants that allow trading services with PEPE include BinanceBybit, OKX, Coinbase, Bitget and many more.
The impressive rise of the token in a short period of time able Experienced traders make substantial profits. However, investors should also keep in mind the volatile nature of PEPE and the entire meme coin sector before entering the ecosystem as they could suffer devastating losses. If you want to protect yourself from some common mistakes related to the subject, check out our dedicated video below: