In an unexpected fashion, the frog meme coin PEPE price predictions are swaying bullish, leaping 17% in value in just a day. The little coin is perched on a hefty monthly gain of almost 98% even though it failed to reach its all-time high of $0.000004449 from early May. Despite a 60% drawdown from the all-time high, there is still ample room for significant upward momentum. Early adapters of PEPE have enjoyed whopping returns of 23,310%. The token broke the billion-dollar mark in terms of market capitalization and currently enjoys a market cap of $688 million contributing to its ranking as the 63rd coin according to Coinmarketcap data.
A lifting force behind PEPE’s price was the recent ruling in the US District Court of Southern New York that the sale of XRP tokens to public, executed by Ripple, was not the promotion of an unregistered security. This ruling provided a morale boost to the entire crypto domain, and PEPE reaped notable benefits. While PEPE’s surge cannot be attributed to any specific utility or legal factor, it is more due to its brand reach that catapulted its attractiveness.
Another positive indicator is the evident active participation of the PEPE whales as buying activity among the largest 100 PEPE holder is warming up. A familiar pattern of becoming a millionaire off the back of PEPE is emerging again, suggesting a return to an all-time high – a pump back seems a feasible undertaking right now.
However, it’s vital to bear in mind that every price spike is coupled with a profit-taking wave, so it is advisable to maintain a degree of dollar cost averaging after the first long position is seized. Also, do not rule out other racing altcoins such as Wall Street Memes ($WSM) and Thug Life Token ($THUG) that might bring even juicier opportunities.
Disclaimer: The volatile nature of the crypto markets means they are not devoid of possible losses. This article is meant to inform, rather than advise on investment choices. Proceed with caution as your capital might be at risk while dealing with crypto.
Source: Cryptonews
