As the memecoin segment becomes increasingly saturated, many investors have shifted their attention to newer projects with potentially higher upside. However, some established memecoins, such as Pepe (PEPE), continue to attract interest.
Despite facing competition from newer memecoins, PEPE has managed to maintain its relevance. Recent data shows that the frog-themed token remains one of the most searched coins on Binance, indicating a significant level of interest among investors.
The memecoin’s address growth has also been encouraging. The total number of addresses holding PEPE has steadily increased since its launch, with a notable acceleration in March 2024. Currently, over 273,400 addresses have a non-zero balance of PEPE.
In terms of profitability, PEPE has seen a positive trend. The percentage of addresses holding PEPE at a profit has increased compared to a year ago. Roughly 66.24% of addresses with a balance are currently in profit.
However, PEPE’s price performance has been mixed. The token has struggled to maintain momentum, trading close to a key support level near $0.0000065. While accumulation has been observed at this level, it remains to be seen whether it can provide a strong foundation for a price recovery.
Also Read: PEPE and SEI Breakout Incoming – Analyst Predicts Bullish Rally Amid Rising Liquidity
If PEPE can break through the $0.0000095 resistance level, it could see a significant rally of up to 31%. However, overcoming the next resistance level of $0.000012 would require a more substantial price increase of around 80%.
Overall, PEPE’s future prospects are uncertain. While the memecoin has shown signs of resilience, it faces intense competition from newer projects. The ability to attract sustained investor interest and break through key resistance levels will be crucial for PEPE’s long-term success.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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