PEPE, the formerly popular meme coin that fell out of favour for much of last month, is on the mend today, with trade up 5% in the previous day. The digital coin is currently trading at $0.000001323 and has started recouping some of the losses it sustained over the previous seven days.
PEPE is deftly following the recent uptick in the overall ecosystem of digital currencies, and thus far it has amassed a sizable trading volume of more over $152.4 million.
According to statistics from CoinMarketCap, this trade volume is currently the 23rd greatest in the sector, which demonstrates a resurgence in interest in the meme coin with a frog motif.
The assumption of whether or not investors would go all out to support PEPE in order to establish a prolonged rebound depends on a number of elements, especially since that June will bring new realities for many cryptocurrencies. These variables mostly depend on whether the token’s creators are adding new goods and services in addition to the frivolity that drove its parabolic rise in the first month after debut.
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There is a potential that new entrants like PEPE and Milady Meme Coin (LADYS) may play a supporting role while the larger meme coin niche works to reclaim its importance.
Sentimental price increases are only suitable to raise an asset’s price to its all-time high (ATH), especially when utility is included. When the ovation gets louder, tokens’ primary strategy of growth will help them maintain any gains they have made.
Accordingly, Dogecoin (DOGE) and Shiba Inu (SHIB), two of the industry’s old guard, are destined to lead the meme coin revolution this month since they possess the necessary stability and built-in development strategy. These meme currencies are worth keeping an eye on this month since they’ve reached a number of new milestones.
