Tiny Pepe, Big Dreams: Memecoin Explodes, Eyes Dominance In The Dog House

Christian Encila

11 months ago

3 mins read

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Once a darling of the internet turned contentious meme, Pepe the Frog is making a splashy reappearance this time in the realm of cryptocurrencies. Inspired after the frog, PEPE—the memecoin—has enjoyed explosive growth in 2024, erasing venerable heavyweights Dogecoin and Shiba Inu from view.

From Feels To FOMO: PEPE’s Outperformance

Reaching a staggering $0.000014, PEPE recently dropped from its all-time high. Along with a startling 900% year-to–date increase, this amazing achievement surpasses the gains of Shiba Inu (SHIB) and Dogecoin (DONG). With many wondering if PEPE can overthrow the current memecoin king, this outperformance has crypto investors humming.

Analyzers cite a possible change in investor mood. Although DOGE and SHIB have dedicated communities and bigger ecosystems, their huge market caps restrict their ability for exponential expansion. Conversely, PEPE fits nicely in the “mid-range memecoin” category and appeals to investors with great returns free from the weight of a swollen market cap.

Can PEPE Maintain Its Momentum?

Some quite convincing technical data support PEPE’s recent pricing increase. According to the Bollinger Band study, bulls stay under control while PEPE hangs above their main support level. This, together with the possible licencing of Ethereum ETFs, could inspire another purchasing frenzy, hence driving the coin towards its expected target of $0.000020.

Total crypto market cap at $2.5 trillion on the daily chart: TradingView.com

Professionals warn against over enthusiasm, though. PEPE is no exception; memecoins are well known for their extreme price movements. Negative regulatory actions or a market slump may readily send PEPE falling. Furthermore unlike DOGE and SHIB, PEPE does not now have a clear road plan for utility going beyond just memecoin. This calls questions on its long-term viability.

Is It A Worthy Investment?

Pepecoin’s recent climb is definitely remarkable, but the future is yet unknown. Investors thinking about joining the memecoin bandwagon should be ready for a wild ride.

Pepe Coin price forecast based on technical analysis. Source: CoinCodex

With 86% technical analysis indicators showing positive signals and 14% displaying negative indications, latest data indicates a general good attitude for the coin price projection.

Although technical indicators show a positive trend for the memecoin given great investor interest and recent price increases, some caution is urged. The very high degree of greed on the Fear & Greed Index suggests a maybe overheated market.

Featured image from Eric Keller, chart from TradingView

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.