Pepe to Eclipse Dogecoin as Market Indicator, Analyst Says

📆 5/10/2023 12:25 PM
📰 Utoday_en

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Could Pepe become the new Dogecoin? One crypto analyst thinks so

Despite the recent enthusiasm, Pepe has faced some setbacks, with its market cap nearing $2 billion and then plunging., like Edward Moya of broker Oanda, believe that the frenzy surrounding meme coins like Pepe could be detrimental to Bitcoin's performance. Bitcoin recently fell below the significant $28,000 level, and Moya suggests that excessive attention to meme coins is diverting potential investment away from it.

However, current market data from CoinGecko indicates a slight recovery for Pepe. As of now, the price of PEPE stands at $0.00000193, reflecting a 1.9% increase. Despite a 55.20% decrease from its all-time high of $0.00000431 just five days ago, the meme coin still holds a market cap of over $809 million.

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