Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
Pepe [PEPE] rallied hard over the past week like many altcoins in the market. Its price rise was the highest among all the memecoins.
Realistic or not, here’s PEPE’s market cap in BTC’s 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], OXK, 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,
Yes, PEPE has the potential to become a market leader, especially if it continues to innovate, gain widespread adoption, and address real-world problems.
Let’s look at PEPE’s metrics
PEPE’s price rose more than 60% over the last week. At press time, it was trading at $0.000001202.
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.
While the memecoin’s Relative Strength Index (RSI) rested below the neutral 50-mark, its Money Flow Index (MFI) rested much above 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 few years.
The meme coin battle is getting exciting
How much are 1,10,100 PEPEs worth today?
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 compete.