Pepe, the meme coin, has dropped 12% after reaching record highs earlier this week. This has investors wondering if it's a good time to buy.
Why Did Pepe Surge?
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Next Meme Coin: Which New Meme Coin Will Boom in 2024? ButtChain, Floki, Mog Coin, Turbo, and Brett - Disrupt Africa3 High-flying Meme Coins to Consider Buying for 100x Gains in 2024The Pepe price jump was linked to the return of an online personality known as "Roaring Kitty," who was a key figure in the meme stock craze of 2021. This triggered excitement around Pepe, similar to what happened with meme stocks back then.
Is Now the Time to Buy Pepe?
Experts say it might be a bit early. While the price has dropped, it's still significantly higher than usual.
Instead of buying now, investors might want to wait for a retest of a specific price point (around $0.00000920) which could offer better buying opportunities.
Why Are Some Investors Still Bullish on Pepe?
Despite the recent drop, many believe Pepe has room to grow. Here's why:
- Popularity: Pepe is gaining popularity, which could drive the price up.
- Market Cap: Compared to other meme coins like Dogecoin and Shiba Inu, Pepe's market cap is still relatively low. This means there's potential for significant growth.
