Leading meme currency Pepe Coin is currently trading around the $0.00001254 price range on Wednesday. It is up nearly 5% in the day’s trade and has shot up close to 37% in 14 days. The meme currency is attracting bullish sentiments lately and investors are jumping in on the bandwagon.
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Its presence on social media is huge with investors constantly talking about the token and its price prospects. The move is luring many other new and first-time investors into Pepe Coin hoping that they too can reap the benefits of its price run. New investors pouring money into Pepe Coin makes its price rise further eventually leading to other people joining the bandwagon.
Pepe Coin: A Price Rise of 48% on The Cards
Leading on-chain metrics and price prediction firm CoinCodex has painted a bullish picture for Pepe Coin. The forecast estimates that the meme currency could rise 48% from its current price and reach a high of $ 0.00001812. Therefore, an investment of $1,000 made today could turn into $1,480 if the forecast turns out to be accurate.
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Pepe Coin is already up 815% in a year and investors who took an entry position last year made massive profits. The meme currency has been printing new highs this year and touched an all-time high of $0.00001717 in May 2024. It is down close to 27% from its ATH in July.
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Nonetheless, there is no guarantee that Pepe Coin could rise by another 48% by July 31, 2024. The cryptocurrency market is highly volatile and cuts both ways delivering massive losses to investors. It is advised to do thorough research before taking an entry into the meme currency and trade at your own risk. While meme coins are known to dramatically surge in price, they are also capable of doing the same in a downward trajectory.
