- PEPE coin, once a famed meme cryptocurrency, has observed a 5% increase in its trading value over the past day, hinting at a possible recovery.
- The significant trading volume of over $152.4 million shows renewed interest in the frog-themed meme coin, with the token’s performance potentially influencing the meme coin market.
The meme coin sensation PEPE, after losing substantial ground in the past month, shows signs of a potential comeback, demonstrating a 5% increase in trading value over the past 24 hours. The digital token, currently priced at $0.000001323, has begun to recover some of its previous losses.
PEPE coin tactfully leverages the overarching positivity prevailing in the broader cryptocurrency sector. In doing so, it has accumulated a substantial trading volume exceeding $152.4 million, making it the 23rd largest in the industry at the moment, as per CoinMarketCap data. This growing volume indicates a resurgence of interest in the frog-themed meme coin, raising hopes for a revival.
The dawn of June brings new prospects for many altcoins. However, the question remains whether investors will significantly back PEPE to trigger a sustainable recovery. This revival primarily depends on whether the developers behind the token plan on launching new products and services. Beyond the thrill that propelled its meteoric rise in the first month after launch, the coin needs tangible value to maintain sustainable growth.
As the broader meme coin market endeavours to reclaim its relevance, emerging coins such as PEPE and Milady Meme Coin (LADYS) could have a secondary role. Emotion-driven price surges may propel an asset to its all-time high (ATH), but the sustainability of this growth depends on its core growth model.
In this context, the meme coin veterans, Dogecoin (DOGE) and Shiba Inu (SHIB), are predicted to spearhead the meme coin revolution this month. Equipped with the stability and inherent growth models necessary to lead the market, these meme coins are worth keeping an eye on, particularly with their recent achievements. Therefore, while PEPE strives for recovery, the performance of established meme coins could significantly influence the broader market dynamics.