The cryptocurrency community witnessed the advent of several meme coins over the past couple of years. The asset that closely resembled the success of Shiba Inu (SHIB) was PEPE. Despite not being a canine-themed asset, PEPE managed to shine in its own way. The asset managed to record a 1094% uptick throughout the past 12 months making it one of the most promising coins. However, the meme coin seems to have lost its way as it was seen dropping.
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Can PEPE Carry 2024’s Momentum Into 2025?
The PEPE market seems to struggling. The asset recorded a 31% drop throughout the last month. Earlier this month, the meme coin was trading at a high of $0.00002184 before slumping down to a low of $0.00001137. During press time, the asset was trading at $0.00001265 after dropping by 2.32% over the past 24 hours.
PEPE is not the only meme coin that has been on a downtrend. Most assets in the meme coin market were recording a major slump and are at a distance from their all-time high. PEPE, for instance, is 55% below its peak of $0.00002825. This led the community is believe that assets with more utility were thriving as opposed to those with none.
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Price Prediction
The volatile nature of the meme coin market makes room for speculation. As a result, the chances of PEPE recording a new high weren’t completely negated. But data from CoinCodex revealed that the asset would be rising by only 11% during the start of the new month. According to the firm, PEPE will trade at $0.00001419 on the first day of February 2025. While this might not represent a major growth in the price of PEPE, it is still an uptick that is necessary for the asset’s overall growth.
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