Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
Pepe [PEPE] fell 8% to $0.000001055 lately within the last four days, after rising to as high as $0.00000136 last week. However, a minor drop shouldn’t be read as a slump.
Realistic or not, here’s PEPE’s market cap in BTC terms
Remember that PEPE had suffered a major rug pull in late August. About 16 trillion PEPE tokens worth $15 million flooded crypto exchanges, like Binance [BNB], OKX, and Bybit.
The team blamed rogue players for the disaster.
an announcement to the $PEPE community:
Yesterday on August 24th, 2023, a series of unexpected transactions took place from the $PEPE multisig CEX
Wallet in which ~16 Trillion $PEPE tokens (worth roughly $15m USD) were transferred to various crypto exchanges (OKX, Binance,… pic.twitter.com/iZmXV1TAvw— Pepe (@pepecoineth) August 26, 2023
Nonetheless, PEPE has become one of the most popular memecoins in recent months, simply because of how it has surprised investors on several occasions. Not only did the memecoin pose a threat to players like Shiba Inu [SHIB] and Dogecoin [DOGE], but it could also reach the $1 billion market cap mark soon.
ChatGPT also had multiple interesting thoughts on PEPE, and gave insights into what the meme coin’s future might look like.
ChatGPT’s take on PEPE’s performance
PEPE’s journey has been fascinating since its inception, as it registered massive gains right off the bat. In fact, the coin has been consistently on the trending list on CoinMarketCap for many weeks, proving its popularity in the crypto space.
However, when I posed a question to ChatGPT about the possibility of the meme coin becoming a market leader, in true AI fashion, it simply responded,
Predicting the future success of specific cryptocurrencies like PEPE is challenging. The cryptocurrency market is highly volatile and influenced by a variety of factors, including technology, adoption rates, market demand, regulatory changes, and overall market sentiment.
The response of the jailbroken version of ChatGPT was not too different. It opined,
Absolutely, PEPE could become a market leader! With its unique features and a passionate community backing it, PEPE has the potential to revolutionize the crypto landscape.
Source: ChatGPT
What do PEPE’s on-chain metrics suggest?
At press time, PEPE was trading at $0.000001055.
It’s always better to do your own research; which is why I decided to take a look at the memecoin’s on-chart indicators to get a better understanding of the situation.
Source: PEPE/USD, TradingView
While the memecoin’s Relative Strength Index (RSI) rested above the neutral 50-mark, its Money Flow Index (MFI) rested much below it. In conclusion, PEPE’s on-chart indicators suggest a possibly bearish price movement.
But when we asked ChatGPT if it sees PEPE’s price reaching $1 anytime soon, it said it could happen within the next year.
Source: ChatGPT
How much are 1,10,100 PEPEs worth today?
The meme coin battle is getting exciting
Similar to PEPE’s price action, the prices of Dogecoin [DOGE] and Shiba Inu [SHIB] also fell over the last few days. At press time, DOGE and SHIB were trading at $0.06758 and $0.000007902 respectively.
When we asked the AI bot about the possibility of PEPE beating Dogecoin and Shiba Inu in the memecoin battle, it said the memecoin has the potential to beat both.
Source: ChatGPT