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How high can the PEPE coin price go in May 2024?
PEPE Coin again outperformed the rest of the cryptocurrencies with its recent gains in the market. Frog meme coin has established a new ATH of $0.00001156 even in this declining market, becoming the most profitable meme coin. Not only did PEPE leave Dogecoin It is Shiba Inu ago, but also the main cryptocurrencies on the market, such as Bitcoinin terms of profit percentages.
The gains were so big that one trader earned US$46 million with just US$3,000 investment. So how high can PEPE rise in May? $0.0001, $1 or higher? Let’s discuss this in this blog.
PEPE price performance
Moments after its launch, PEPE gained more than an insane boost as it became investors’ preferred currency. PEPE Coin repeated this increase in start this year, which lasted weeks. It gained a high of $0.000009977, but with the market falling, this has stopped until now.
PEPE created a new all-time high of $0.00001156 just a few hours ago after gaining 104% in one month and 45% this week. Furthermore, PEPE has made a profit of almost 2,000% since its launch and could grow 10x in the next one.
At the time of writing, it is negotiation at US$0.00001127 with a market value of US$4.74 billion and a trading volume of US$3.56 billion. If the increase continues, PEPE will become part of the top 20 cryptocurrencies based on market value.
Can PEPE reach US$1 in May?
The PEPE coin looks to continue its rally for now as the MACD and the moving averages still indicate a strong buying spree for this meme coin. The number of PEPE holders is continually increasing, providing an extra boost to the PEPE price, but this is still not enough to push the value towards $1.
So far, only a few meme coins that started their journey with lower prices and large quantities, like PEPE, could rise close to $1. Even Dogecoin has not yet managed to get close to $1, which makes it clear how unrealistic this $1 target is. 1 for PEPE.
Furthermore, PEPE Coin has a circulating supply of 420.69 trillion. Imagine the chaos when the price of PEPE reaches 1 dollar and the market capitalization reaches 420 billion, much more than the GDP of all countries combined. The crypto market is not prepared to deal with such situations.
The $0.0001 target is much more realistic for PEPE as it could increase so much if the trend continues. However, considering the market instability and the near absence of advancements in PEPE resources, it is challenging to see PEPE at $0.0001. Still, the PEPE community is quite excited about these gains and predicted profits at least ten times greater.
Final thoughts
The general crypto market sentiments are neutral, but sentiments towards PEPE are bullish, which could continue PEPE prices to rise for days. With its recent gain, PEPE Coin has taken the market by storm and is paving the way towards $0.0001. If the trend continues as it did at the beginning of the year, the $0.0001 target will be achievable. However, there is a small possibility that the bears will take the gains. Let’s see how the price moves next.
See more information: Best Buy Cryptocurrencies Under $5 in May