Disclaimer: The data 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.
Real looking 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 price $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 sequence of sudden transactions befell from the $PEPE multisig CEX
Pockets wherein ~16 Trillion $PEPE tokens (price roughly $15m USD) had been transferred to numerous crypto exchanges (OKX, Binance,… pic.twitter.com/iZmXV1TAvw— Pepe (@pepecoineth) August 26, 2023
Nonetheless, PEPE has develop into one of the in style 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 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 attention-grabbing 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 positive factors proper off the bat. In reality, the coin has been constantly on the trending record 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 changing into a market chief, in true AI trend, 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 components embrace know-how, adoption, neighborhood help, use instances, 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 want to display real-world utility, appeal to a considerable consumer base, and constantly innovate. The crypto market is extremely aggressive and dynamic, with quite a few initiatives vying for consideration.
Supply: ChatGPT
Let’s have a look at PEPE’s metrics
PEPE’s worth fell almost 5% over the past week. At press time, it was buying and selling at $0.000000638.
It’s all the time 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.
Supply: PEPE/USD, TradingView
Whereas the memecoin’s Relative Power Index (RSI) rested above the impartial 50-mark, its Cash Circulation Index (MFI) rested beneath it. In conclusion, PEPE’s on-chart indicators counsel a bearish worth motion.
However after we requested ChatGPT if it sees PEPE’s worth reaching $1 anytime quickly, it stated 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 almost the identical as they had 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 price at the moment?
After we requested the AI bot about the potential of PEPE beating Dogecoin and Shiba Inu within the memecoin battle, it stated the memecoin has the potential to compete.
Supply: ChatGPT