Frog-themed meme coin PepeCoin (PEPE) is now likely to strengthen after weeks of weak trading, with its price surging 15% today to $0.0000006933. around Data from CoinMarketCap. The sudden reversal in price fluctuations served to push the price of the token further up considering the subsequent 7-day period.
Unlike its main rival, Shiba Inu (SHIB), PEPE has been literally on the sidelines in recent weeks. Memecoin has not shown much activity within its ecosystem, and as if following a uniform imperative, market whales have specifically avoided this token, which was once famous as a favorite investment asset.
As a token less than a year old, PEPE buyers are still living in the fading euphoria of its initial launch. Although this coin made many millionaires in the first few months, the project has had great trouble maintaining this bullish glow as it does not come with any additional fundamentals.
But seemingly overnight, the PEPE community has come alive again, with a whopping $169.72 million in transactions to date, and a growth rate of 516%.
PEPE is still in recovery mode
Earlier this month, PEPE fell victim to a majority of its social media profiles, including X and Telegram, being compromised. The hype has made the token even less attractive to investors, which has been the subject of intense questioning for years.
Although the current growth rate can be assessed as the first of its kind since the project was exploited, it can be said that PEPE is still in the recovery phase, and therefore a significant recovery to new heights. cannot be evaluated.
The long-term success of PEPE requires intense speculation across the board. Using the SHIB template, many believe that the protocol needs to become more practical in order to achieve stable growth in the near future.