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#memecoins #DOGE , #SHİB , and #PEPE : Can They Still Recover or Are They Destined to Fade Away?

Dogecoin ($DOGE ) is the leader of the memecoins, but that's probably just because it seems to be a big favorite of Elon Musk. The general opinion is that one day Musk could turn this currency into a payment method, perhaps on the X platform, or maybe in one of his other companies.

For a memecoin that relies on such hope and prayer, a market capitalization of $25.8 billion seems ridiculously overvalued. Time will tell if this is indeed the case.

Shiba Inu ($SHIB) is the other memecoin that claims to have some kind of utility, but this seems to be in the form of a small ecosystem that does not promise anything innovative.

A market capitalization of $7.3 billion is still a huge amount for this memecoin, so it will be interesting to see if a full recovery can be achieved.

$PEPE is the third largest memecoin by market capitalization, with a valuation of $2.68 billion. This is still a considerable sum of money, especially when you consider that Pepe does not claim to have anything backing it. It is a gust of wind, a thread of gossamer, a Will-o’-the-wisp.

Only if the degenerate trading public decides to support it again will the price take off. As things stand, the price is currently holding at a last-ditch horizontal support. The price of Pepe will need the market to change drastically, and soon, for the day to be saved.

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