On Monday, Pepe (PEPE) experienced a 30% surge in price as investors returned to the meme coin, drawn back by a rise in risk appetite observed in the broader cryptocurrency markets. This surge coincided with Bitcoin (BTC) reclaiming the $54,000 mark for the first time since early December 2021.
Pepe’s current value, just below $0.0000018, marks its highest point since July 2023. Despite reaching close to its summer 2023 highs in the $0.00000188 range, PEPE faced resistance.
The daily trading volumes saw a threefold increase, surpassing $460 million across major cryptocurrency exchanges, potentially indicating whale activity. However, this surge could alternatively point to heightened retail trading.
Regardless of the cause, considering the robust bullish momentum prevailing in the crypto market this week, Pepe’s price appears to carry upside risks.
The question remains: Where does PEPE head next in terms of price prediction?
This would bring Pepe’s market capitalization back to approximately $1.8-1.9 billion.
Since its introduction in early 2023, Pepe has established itself as a prominent meme coin in the crypto space. In the current bull market, it could realistically reach a market cap in the vicinity of $10 billion, potentially yielding gains exceeding 10x from its current levels.
While these gains would be substantial, many meme coin enthusiasts are seeking returns closer to 100x. However, Pepe’s market cap is already too inflated to support such returns. Coins with market caps below $100 million are the only ones with a genuine chance of achieving 100x gains.
An example of such a coin that holds promise for significant returns is a recently launched meme coin named Frogwifhat (FWIF).
Consider Frogwifhat (FWIF) as an Alternative to Pepe.
Introducing Frogwifhat (FWIF), a recently launched meme coin that holds the potential to achieve a 100x growth.
This token made its debut on the Ethereum platform earlier this Monday, quickly soaring to a market cap of $4 million within a few hours.
Investors now have an opportunity to enter the market, as the token has retraced to a price of approximately $0.0016, resulting in a market cap of around $1.6 million.
A visit to frogwifhattoken.com reveals that the coin aims to emulate the success of meme coins like Dogwifcoin, Bonk, and Smog. There are even speculations that the founders of Frogwifhat might be the same individuals behind these previously successful meme coins.
While potential buyers should conduct their own due diligence, there are compelling aspects to appreciate about this coin. Notably, over $300k in liquidity has been locked, a crucial factor for coins listed on decentralized exchanges (DEXs). Locked liquidity mitigates the risk of a rug pull, where the project team absconds with the funds of token holders.
The fair launch of Frogwifhat, with all 1 billion tokens available on the open market, follows the trend of animal-themed meme coins, but this time featuring a Frog with a Beret, with the beret serving as a nod to French culture.