PEPE aims for July peak
PEPE aims for July peak
As optimism around the start of altcoin season grows, prices for popular meme coins are recovering. Over the past month, Pepe (PEPE) has gained more than 23%, positioning itself as a leading candidate for gains in the meme coin sector.
At the time of writing, PEPE was trading above $0.00001, having lost 2.5% over the past 24 hours. However, last week, PEPE briefly broke through the $0.000011 level and came close to it twice more, though it failed to capitalize on these opportunities. Analysts at AMBCrypto have suggested that PEPE could rise to $0.0000132, a 20% increase.
This week is expected to be a repeat of the last, but possibly more successful. In late September, PEPE reached $0.000012, and some traders see the current price as a chance to buy the dip and establish long positions. Given the potential for altcoin season, PEPE is likely to aim for its July peak of $0.000013 and possibly its May all-time high (ATH) of $0.000017.
A token with a long history
It is important to note that the token has a significant user base, both in the West and the East. At one point, it ranked among the top four cryptocurrencies traded by Turkish traders.While Pepe, as an Ethereum-based token, was launched in July 2023 and gained popularity in spring 2024, the character “Pepe the Frog,” known for his catchphrase "feels good man," has been around since 2005, originally appearing in a webcomic by American artist Matt Furie.Pepe's popularity initially grew on platforms like MySpace, Gaia Online, 4chan and Tumblr, within apolitical groups of advanced internet users and web artists, until around 2015-2016, when Pepe became a symbol of the alt-right movement in the U.S., associated with Donald Trump.In 2019-2020, Pepe's image was used by students in Hong Kong protesting against Beijing's crackdown on autonomy.Thus, both in the U.S. and Asia, a substantial consumer base for the meme token has been established.
However, it’s essential to remember that the token was created primarily for entertainment. Most PEPE buyers are engaging with it for the experience of trading and being part of meme culture, rather than for long-term investment purposes.
