The crypto ecosystem is in recovery mode after a tumultuous week that saw more than $1 billion removed from the market thus far. While this recovery is being fueled by Bitcoin (BTC) whose losses are shrinking at the time of writing, PEPE’s bullish moves are also fueling the potential upsurge of altcoins.
The PEPE Intrigue is Unending
PEPE is changing hands at a price of $0.000001134 after picking as much as 5% in the past 24 hours. The sharp recovery of the popular memecoin was backed by the massive embrace of the token by whales. The steady accumulation of the token has been one of its strongest features, one that many analysts believe will be instrumental in returning the token back to its winning ways.
While there is no way to measure how the price of PEPE will shape up in the short to mid-term, the fact that most whales are holding onto their bags is evident as a move to help sustain the resilience of the memecoin irrespective of the trends in the market at any point in time.
PEPE has been a high flier for a long time and with its high propensity for a massive return on investment, its attractiveness in the long term is still high. Rating PEPE alongside its core rivals in the memecoin ecosystem is another important way to pre-judge its potential near-term performance.
According to on-chain data, PEPE’s Year-to-Date (YTD) gain is up by 1,897% while that of SHIB is pegged at a loss of 0.14%. The same losses trailed Dogecoin (DOGE) whose YTD gain is pegged at negative 9% making PEPE the most attractive option of the trio.
Will a Zero be Canceled?
PEPE has showcased its resilience and readiness to soar when compared to the general altcoin market. However, the possibility of the memecoin canceling another zero from the current price point is almost arduous in the short term except an unforeseen massive price rally is recorded.
Overall, PEPE remains one of the top tokens on many traders’ watchlists for the rest of the weekend and in the week ahead.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
