PEPE Meme Coin Could Make a Comeback
The PEPE meme coin has taken a backseat to other Solana ecosystem meme coins like BONK, causing it to fade in popularity. However, as the hype around these new meme coins starts to die down, attention is shifting back to established market leaders like PEPE, which may be preparing for a resurgence.
On-Chain Indicators Show Bullish Sentiment for PEPE
On-chain indicators, such as Weighted Sentiment, can provide insights into investor interest in a particular cryptocurrency like PEPE. Weighted Sentiment measures sentiment across social media platforms to gauge how investors perceive a coin. According to Santiment, the Weighted Sentiment for PEPE is currently bullish, indicating a positive shift in sentiment and an increase in positive mentions on social media.
Daily Trading Volume Rises Significantly
In addition to Weighted Sentiment, PEPE’s daily trading volume has also seen a significant increase. The coin’s volume has surged by approximately 62% in the last day, suggesting a higher level of buying activity. This rise in volume, coupled with the stable price of PEPE, indicates potential support from bullish investors. If this trend continues, the meme coin could potentially recover and reach $0.000001, representing a 10% gain from its current level.
PEPE Falls to Fifth Position Among Meme Coins
Despite its recent decline, PEPE remains a prominent player in the meme coin market. However, it has slipped to the fifth position behind other popular meme coins like BONK and CorgiAI.
Hot Take: Will PEPE Make a Memorable Comeback?
While PEPE may have temporarily lost its spotlight to newer meme coins, on-chain indicators suggest a potential resurgence for this established player. Positive sentiment on social media platforms and increased trading volume indicate growing interest and support from investors. As the market evolves and the hype around other meme coins subsides, PEPE could make a memorable comeback and regain its position as a leading meme coin.
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