PEPEs $10B Value in Peril: 25% Christmas Drop Ahead
- PEPE fell 16% from its all-time high, currently trading at $0.00002385.
- The meme coins valuation stands at $10 billion, ranking it as the 20th largest cryptocurrency.
- Analysts forecast a further price decline to $0.00001316 by December 25.
Canine-themed meme coins have long dominated the crypto scene, but PEPE broke the mold. Drawing inspiration from the internets famous frog, this meme coin has become a noteworthy contender. However, after a meteoric rise in value, its momentum is faltering as the year-end approaches.
At the time of writing, the frog themed meme coin trades at $0.00002385, reflecting a 6% dip in the last 24 hours. On December 9, the coin reached an all-time high of $0.00002825, but has since dropped 16% below its peak. Even so, the token boasts a 100% surge over the past month, a performance that underscores its volatile yet promising nature.
PEPEs market capitalization recently crossed the $10 billion mark, momentarily surpassing seasoned assets like Uniswap (UNI) and Litecoin (LTC). Despite its current pullback, the meme coin remains the 20th largest cryptocurrency, signaling robust investor interest.
However, forecasts for PEPEs price remain cautious. Data from CoinCodex predicts a Christmas Day price of $0.00001316, marking a significant decline from its present value. For 2024, the tokens yearly average price is projected at $0.00001542, which may result in a -5.52% return on investment.
December Outlook: Room for PEPEs Recovery?
Despite bearish projections, the broader cryptocurrency market could catalyze a rebound for PEPE. Historically, the final weeks of the year often bring unexpected rallies, driven by heightened trading activity and market sentiment.
Investors remain dividedsome opt for shorting PEPE amid the anticipated decline, while others view the dip as a buying opportunity. The next few weeks will be critical in determining whether this meme coin can sustain its position among crypto heavyweights or succumb to market pressures.
PEPE is currently trading at $0.00002385, reflecting a 6% drop in the past day. With a market capitalization of $10 billion, the meme coin holds the 20th spot among cryptocurrencies. Despite experiencing a remarkable 100% surge in November, analysts anticipate a bearish trend ahead, with the price potentially falling to $0.00001316 by Christmas.
Read more: https://www.tronweekly.com/pepes-10b-peril-25-christmas-drop-ahead/
Text source: TronWeekly
