Disclaimer: The data offered doesn’t represent monetary, funding, buying and selling, or different kinds of recommendation and is solely the author’s opinion.
Pepe [PEPE] got here again to the limelight following a serious drop in its value. The memecoin has suffered a drop of 5% throughout the final 5 days.
Sensible or not, right here’s PEPE’s market cap in BTC’s phrases
Moreover, PEPE suffered a serious rug pull in late August. About 16 trillion PEPE tokens value $15 million flooded crypto exchanges, like Binance [BNB], OXK, and Bybit.
The group blamed rogue gamers for the catastrophe.
an announcement to the $PEPE neighborhood:
Yesterday on August twenty fourth, 2023, a sequence of sudden transactions happened from the $PEPE multisig CEX
Pockets by which ~16 Trillion $PEPE tokens (value roughly $15m USD) have been transferred to varied crypto exchanges (OKX, Binance,… pic.twitter.com/iZmXV1TAvw— Pepe (@pepecoineth) August 26, 2023
Nonetheless, PEPE has develop into one of the vital widespread memecoins in current months, merely due to the way it has shocked buyers on a number of events. Not solely did the memecoin pose a menace to gamers like Shiba Inu [SHIB] and Dogecoin [DOGE], however it may additionally attain the $1 billion market cap mark quickly.
ChatGPT additionally had a number of fascinating ideas on PEPE, and gave insights into what the meme coin’s future would possibly seem like.
ChatGPT’s tackle PEPE’s efficiency
PEPE’s journey has been fascinating since its inception, because it registered huge positive factors proper off the bat. In actual fact, the coin has been persistently on the trending record on CoinMarketCap for a lot of weeks, proving its reputation within the crypto house.
Nevertheless, once I posed a query to ChatGPT about the opportunity of the meme coin turning into a market chief, in true AI style, it merely responded,
The potential for Pepecoin (PEPE) or any cryptocurrency to develop into a market chief is dependent upon a fancy interaction of things. These elements embody know-how, adoption, neighborhood help, use circumstances, and market sentiment.
The response of the jailbroken model of ChatGPT was not too totally different. It opined,
To develop into a market chief, PEPE would wish to reveal real-world utility, entice a considerable person base, and constantly innovate. The crypto market is extremely aggressive and dynamic, with quite a few tasks vying for consideration.
Let’s take a look at PEPE’s metrics
PEPE’s value fell practically 5% during the last week. At press time, it was buying and selling at $0.000000638.
It’s at all times higher to do your individual analysis; which is why I made a decision to check out the memecoin’s on-chart indicators to get a greater understanding of the scenario.
Whereas the memecoin’s Relative Energy Index (RSI) rested above the impartial 50-mark, its Cash Movement Index (MFI) rested beneath it. In conclusion, PEPE’s on-chart indicators recommend a bearish value motion.
However after we requested ChatGPT if it sees PEPE’s value reaching $1 anytime quickly, it mentioned it may occur throughout the subsequent 2-3 years.
The meme coin battle is getting thrilling
In contrast to PEPE’s value motion, the costs of Dogecoin [DOGE] and Shiba Inu [SHIB] are practically the identical as they have been every week earlier. At press time, DOGE was buying and selling at $0.05944, and SHIB was buying and selling at $0.000006942.
How a lot are 1,10,100 PEPEs value immediately?
After we requested the AI bot about the opportunity of PEPE beating Dogecoin and Shiba Inu within the memecoin battle, it mentioned the memecoin has the potential to compete.