Pepe Coin (PEPE) emerged in the cryptocurrency world as part of the meme-based cryptocurrency trend, such as Dogecoin and Shiba Inu. While these coins do not offer much practical use, they rely on popularity and community interest to achieve their success. “PEPE” is inspired by the popular internet meme “Pepe the Frog,” which has gained widespread popularity in digital culture.
Factors affecting the price of PEPE coin
1. Community interest and media hype: PEPE relies heavily on community activity and speculation in the markets. The influence of social media, especially through promotional campaigns and memes, plays a major role in driving the price of the coin. Online communities that embrace this coin quickly boost its popularity and drive its price up based on continuous speculation.
2. Relying on the general market trend: The performance of Bitcoin and other major cryptocurrencies is an important indicator of the PEPE market. If the market is in a bullish mood, as it was in late 2024, PEPE can capitalize on this momentum to record significant price increases. For example, the coin saw a 97% gain in November 2024 when the price of Bitcoin reached record highs.
3. Technical Analysis: Some analysts predict that PEPE could see a significant upswing in December 2024, based on chart patterns and technical analysis. It is believed that the coin could break out of bearish patterns to set new records, if the positive momentum continues.
4. High Volatility: As a speculative meme coin, PEPE exhibits high price volatility. Its value can either skyrocket in short periods due to community enthusiasm or rapidly decline due to the lack of solid fundamentals supporting its value.
PEPE Coin Future
Analysts expect PEPE to continue to rely on hype and speculation to make new gains. However, whether these gains will continue depends on the general market trends and the extent of community support. On the other hand, some analysts point out that the coin is likely to experience periods of stability or decline if interest in it wanes or if the market experiences a major correction.
Overall, PEPE represents a high-risk investment, based more on general trends in the cryptocurrency market and community support than a coin with a strong project or future technological goal.
