The once-booming Pepecoin (PEPE), born out of the viral internet meme sensation Pepe the Frog, seems to be stumbling, leading to whispers about its uncertain future in the crypto realm. Glauber Contessoto, self-dubbed a “Dogecoin millionaire”, and well-known tracker @/DogeWhaleAlert have voiced their concerns over PEPE’s ongoing plunge.
The Warning Bell Rung by a “Dogecoin Millionaire”
Contessoto, who gained significant public attention after his Dogecoin success story was featured in mainstream media outlets like CNBC, recently suggested that Pepecoin could be “officially dead.” However, this sparked a contentious conversation with another user, Crypto Jesus, who expressed a newfound interest in PEPE after Contessoto’s pessimistic prediction.
Crypto Jesus responded to Contessoto’s proclamation by saying, “This tweet makes me really want to buy $PEPE. I can’t imagine this was your intent, but you’re reaching Jim Cramer levels of investing at this point. I kind of expect $PEPE to go full parabolic now.”
Countering the assertion, Contessoto retorted, “Was it Jim Cramer levels when I called the top at 1.5 Billion market cap and told everyone to sell, and no one listened to me? Then it just continued to dump day after day after day…?” In response, Crypto Jesus slyly suggested that the essence of “reaching Jim Cramer levels” precisely lies in people either ignoring the advice or doing the complete opposite.
A Meme-coin’s Rocky Journey
Pepecoin, drawing its roots from the much-loved and humorous Pepe the Frog internet meme, initially seemed to be following the meme’s lightheartedness. While it initially appeared to be primarily for fun and potential profit, akin to its meme coin counterparts Doge and Shiba, PEPE has recently experienced a roller-coaster ride.
In recent times, Pepecoin saw a drastic plunge of more than 40% in less than a fortnight after soaring to over $1 billion in value post-launch. Currently, PEPE stands at a price of $0.000001254 with a daily trading volume of $150 million, a market cap of $491 million, and a whopping total issuance of 420 trillion coins.