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Pepe Coin (PEPE) has been pumping hard in the last 24 hours.
As per CoinGecko, the cryptocurrency has surged a massive 80% in the last seven days.
At current levels near $0.00000115, PEPE is up more than 90% versus its September lows at $0.0000006.
The token’s pump comes as the broader crypto market rallies on optimism about near-term spot Bitcoin (BTC) Exchange Traded Fund (ETF) approvals.
Pepe also got a helping hand on Tuesday after Pepe Coin’s official X account announced that a new team had arrived to guide the token forward, and they had burnt 6.9 trillion tokens worth around $6 million from the project’s wallet.
6.9T $PEPE Tokens worth ~$6,000,000 have been burned. https://t.co/aN5LRUFz8u
A new team of advisors have been brought on to guide Pepe forward. Uses for the remaining 3.79T tokens attributed to the original team CEX multi-sig wallet for strategic partnerships and marketing… pic.twitter.com/JN3ssvH0XL
— Pepe (@pepecoineth) October 24, 2023
The announcement read that uses for the team’s remaining 3.79 trillion tokens, such as for strategic partnerships and marketing opportunities, are currently being explored.
Price Prediction – Where Next for Pepe Coin (PEPE)?
Pepe’s big pump since the start of the week has seen it break convincingly to the north of a downtrend that had been in play going all the way back to July and all of its major moving averages.
That means a near-term test of the summer highs around $0.0000019 remains a strong possibility, particularly as broader market sentiment continues to improve.
That could mean swift near-term gains in the region of 60% for Pepe.
Can Pepe Coin (PEPE) Reach $1 in 2023?
With the broader market pumping, Pepe could be in the early stages of a new bull market.
Could the token ever reach as high as $1?
Well, seeing as there are 4.2 quadrillion tokens (that’s right, 4.2 thousand trillion), a token price of $1 means the market cap would have to reach $4.2 quadrillion for a $1 token price to be achieved.
This is a market cap that is exponentially higher than the market capitalization of the world’s entire real estate, stock and government debt markets, let alone the crypto market.
So its not feasible.
But that doesn’t mean Pepe can’t reclaim the status it held for a short period of time earlier this as being a meme coin worth more than $1 billion.
Crypto Alternatives to Consider
Things are looking good for Pepe Coin (PEPE).
But for those looking for an even better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of upstart crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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