Last week, the cryptocurrency market took a bloodbath. However, it is now showing signs of recovery. In this environment, Pepe Coin has gained about 5% in the last 24 hours. Thus, the popular meme coin has taken its place at the forefront of the current altcoin resurgence.
The PEPE plot is endless!
As you follow on Kriptokoin.com, the crypto ecosystem is in recovery mode after a turbulent week with more than $1 billion in withdrawals from the market so far. This recovery is supported by the leading crypto Bitcoin (BTC), which has cut its losses at the time of writing. On the other hand, the bullish movements of PEPE are also fueling the potential rise in altcoin projects.
PEPE has gained up to 5% in the last 24 hours. Currently, the altcoin is changing hands at $0.000001134. The sharp recovery of the popular meme coin is supported by the massive embrace of the token by whales. The stable accumulation of the token has been one of its strongest features, which many analysts believe will be instrumental in returning the token to their earning path.
PEPE price chart“The long-term attractiveness of the popular altcoin project is still high!”
There is no way to gauge how the price of PEPE will shape up in the short to medium term. However, according to crypto analyst Godfrey Benjamin, the fact that most of the whales are holding their bags is clearly seen as a move that will help sustain the meme coin’s resistance at any given time, regardless of market trends. As you may recall, PEPE has been a high volatility in the market for a long time. The long-term attractiveness is still high, with a bullish bias for a great return on investment.
Evaluating PEPE along with its key competitors in the meme coin ecosystem is another important way to anticipate its potential near-term performance. According to on-chain data, PEPE’s Year-to-Date (YTD) earnings are an astonishing 1.897%. Another meme coin, Shiba Inu (SHIB), is down 0.14%. The original meme coin, Dogecoin (DOGE), which had a negative 9% YTD gain, is also among the losers. This makes PEPE the most attractive option among the three altcoins.
Will altcoin cancel zero?
According to the analyst, PEPE has demonstrated its resilience and readiness to rise compared to the overall altcoin market. However, the possibility of the meme coin canceling another zero from its current price point is quite elusive in the short term unless a massive unforeseen price rally is recorded. Overall, PEPE remains one of the top altcoin projects on many investors’ watchlists for the rest of the weekend and next week.
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