Over the last 24 hours, the PEPE price has dipped slightly by 0.56% as the overall market has seen some growth, with meme coins averaging a 0.83% increase.
Today’s losses continue PEPE’s significant 14.80% retracement since last Wednesday. While disappointing, this price action is in line with the losses experienced by other notable cryptocurrencies.
Significantly, investor interest in PEPE appears to be low today – its trading volume has fallen 32.89% to $679 million over the past 24 hours.
Despite this, one expert sees potential that PEPE may mirror the “blow-off” that Shiba Inu experienced late in the 2021 cycle
Expert Trader Believes PEPE Price May Mirror Shiba Inu’s 2021 ‘Blow-off’
Expert trader MateFinance recently shared a bullish outlook for PEPE on X, predicting an upcoming rally similar to the “blow-off” Shiba Inu experienced late in the 2021 cycle.
Throughout the post, the trader cited DogWifHat and Pepe to be the Dogecoin and Shiba Inu of this cycle, respectively.
He noted how they have captured multi-billion market caps and mindshare for extended periods, putting them at the forefront of the meme coins this cycle.
Meanwhile, Dogecoin and Shiba Inu have seen much of their attention “sucked out,” reflected in their recent disappointing price action.
In the wider meme coin scene, he noted how many other top performers have mostly been driven by fads:
“Everything else is a derivative at this point and [in my opinion] will be limited to a specific meta that has its moment and then fizzles out (see $BODEN, celeb coins, etc).”
But can Pepe mirror Shiba Inu? The trader highlighted a Coinbase listing as crucial for Pepe to replicate Shiba Inu’s success in 2021. He cited this listing as the “instigator” behind the bullish momentum and blow-off that $SHIB experienced late in the 2021 cycle.
In response to a comment, the trader expanded on his prediction, eyeing a Pepe market cap exceeding $10 billion this cycle. This would bring the PEPE price to $0.000023.
However, he noted how this cycle does differ from 2021 in the prevailing macroeconomic challenges and the fragmented attention in the meme coin space, drawing hands away from the main players.
The trader also noted a potential PEPE rally to be a catalyst for other meme coins. He said, “As $WIF and $PEPE (like $DOGE and $SHIB) rise, it will be the rising tide that lifts all boats.”
Traders Are Looking To A New PEPE Coin
If the PEPE price were to reach the optimistic case of $0.000023, it would represent a 2.5x increase.
Although substantial, there are emerging low-cap meme coins that offer potentially more significant returns. The best meme coin opportunities now leverage real utility on top of a strong community
One coin that stands to benefit the most from a PEPE rally’s influence is its cited successor, Pepe Unchained ($PEPU).
Pepe Unchained is a meme coin that transcends conventional utility. It addresses two of the most significant pain points in the current crypto landscape – transaction speeds and fees.
This liberated evolution of Pepe operates on its own Layer 2 chain, freeing itself from Ethereum’s shackles, offering lower fees and 100x faster transaction speeds.
It’s not just a meme coin, it’s a memechain! Something that may be credited to its instant success, raising almost $3 million in its presale so far.
Another chain broken!
Pepe officially hits $3M! Thank you for the incredible support. The journey is just beginning. pic.twitter.com/yySoWoXaCa
— Pepe Unchained (@pepe_unchained) July 10, 2024
This confidence can also be attributed to Pepe Unchained’s commitment to transparency. It has undergone two audits and features its own block explorer, allowing users to track all transactions on its unique chain.
At a temporary fixed presale price of $0.0083591, those who act quickly stand to benefit the most. Investors are currently earning an impressive 619% APY. This presents a valuable passive income opportunity, even amidst recent market volatility.
Join the Pepe Unchained community on X and Telegram to stay up to date on the latest announcements.
BUY $PEPU NOW
The post Can Pepe Repeat Shiba Inu’s 2021 Success? Price Prediction by Crypto Trader appeared first on Cryptonews.
