Even in light of the latest price rise in the Pepe (PEPE), an analyst, Oscar Ramos, argued against the possibility of the meme coin attaining a $100bn market cap.
Ramos has been previously optimistic about cryptocurrency, and this time, he has pointed to issues with Pepe coin’s lack of utility, definition, and general roadmap of this particular meme token in contrast to its counterparts Doge (DOGE) and Shiba (SHIB) with the latter expected to rise 400%.
In line with this argument, Ramos mentions that Pepe has received a significant price boost thanks to hoarder investors known as ”whales.” Nevertheless, he argues about the viability of this growth without a proper utility for Bitcoin or a clear map of development. The lack of such basic criteria has created doubts about Pepe’s long-term benefits other than the present-day trends.
The analyst adds that this applies because investors become skeptical when comparing Pepe to other meme coins without the $100bn market capitalization. Here, Ramos notes that even these commonly used tokens are backed up by stronger communities and more concrete goals, which Pepe lacks now. However, he says that large late transactions suggest that the wealthy own this currency and are interested in its use. However, the analyst is justifiably concerned with specific liquidity concerns that early investors can experience in a risky market.
Pepe Price Review: How is Pepe Looking Today?
A detailed analysis of Pepe’s price trend shows that this virtual currency oscillates with regular rises and dip intervals. Recently, the BOJ has been moving around the middle BB, indicating that price consolidation may be due. The recently formed candlesticks lie right near the 20 Simple Moving Average line, which might mean that buyers and sellers are in parity.
Analyzing the chart, we can state that the Bollinger Bands are not extremely wide, meaning that volatility in the recent trading sessions has been quite decent. The price has often performed close to the upper and lower limit bands, thus pointing out active trading sessions with very active price movement. On the other hand, the oscillation of the Woods CCI (Commodity Channel Index) is contained around the zero line but is positive, suggesting a slightly bullish trend in the market.
Furthermore, the Money Flow Index is a momentum index that uses prices and volume to indicate buying and selling pressures and is presently at 53. 49. As per the popular data aggregator, CoinMarketCap, the meme coin came at $0. 0000152 as of 10: This can be as follows at 0000 hours UTC, which compares to 1. A dramatic decrease of 97% over the past One Day.
