Disclaimer: The knowledge introduced doesn’t represent monetary, funding, buying and selling, or different sorts of recommendation and is solely the author’s opinion.
Pepe [PEPE] got here again to the limelight following a serious drop in its worth. The memecoin has suffered a drop of 5% throughout the final 5 days.
Lifelike or not, right here’s PEPE’s market cap in BTC’s phrases
In addition to, 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 staff blamed rogue gamers for the catastrophe.
an announcement to the $PEPE neighborhood:
Yesterday on August twenty fourth, 2023, a collection of sudden transactions occurred from the $PEPE multisig CEX
Pockets by which ~16 Trillion $PEPE tokens (value roughly $15m USD) have been transferred to numerous crypto exchanges (OKX, Binance,… pic.twitter.com/iZmXV1TAvw— Pepe (@pepecoineth) August 26, 2023
Nonetheless, PEPE has grow to be one of the vital well-liked memecoins in latest months, merely due to the way it has stunned buyers on a number of events. Not solely did the memecoin pose a risk to gamers like Shiba Inu [SHIB] and Dogecoin [DOGE], nevertheless 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 appear to be.
ChatGPT’s tackle PEPE’s efficiency
PEPE’s journey has been fascinating since its inception, because it registered huge beneficial properties proper off the bat. In truth, the coin has been persistently on the trending checklist on CoinMarketCap for a lot of weeks, proving its recognition within the crypto area.
Nonetheless, once I posed a query to ChatGPT about the potential of the meme coin turning into a market chief, in true AI vogue, it merely responded,
The potential for Pepecoin (PEPE) or any cryptocurrency to grow to be a market chief depends upon a posh interaction of things. These components embody know-how, adoption, neighborhood help, use circumstances, and market sentiment.
The response of the jailbroken model of ChatGPT was not too completely different. It opined,
To grow to be a market chief, PEPE would wish to show real-world utility, entice a considerable person base, and repeatedly innovate. The crypto market is extremely aggressive and dynamic, with quite a few tasks vying for consideration.
Supply: ChatGPT
Let’s take a look at PEPE’s metrics
PEPE’s worth fell practically 5% over the past week. At press time, it was buying and selling at $0.000000638.
It’s at all times higher to do your personal analysis; which is why I made a decision to try the memecoin’s on-chart indicators to get a greater understanding of the scenario.
Supply: PEPE/USD, TradingView
Whereas the memecoin’s Relative Power Index (RSI) rested above the impartial 50-mark, its Cash Circulate Index (MFI) rested under it. In conclusion, PEPE’s on-chart indicators recommend a bearish worth motion.
However after we requested ChatGPT if it sees PEPE’s worth reaching $1 anytime quickly, it mentioned it may occur throughout the subsequent 2-3 years.
Supply: ChatGPT
The meme coin battle is getting thrilling
In contrast to PEPE’s worth 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 at present?
After we requested the AI bot about the potential of PEPE beating Dogecoin and Shiba Inu within the memecoin battle, it mentioned the memecoin has the potential to compete.
Supply: ChatGPT
