Crypto Analyst Predicts PEPE Could Surge 10x Despite Price Drop
Release: 2024/06/10 16:02 Reading: 804
Crypto Analyst Predicts PEPE Could Surge 10x Despite Price Decline
PEPE, the memecoin featuring the frog Pepe, experienced a price drop after reaching $0.0000172 in late May. It currently sits at $0.0000123, with a market cap of $5.25 billion. This downtrend suggests a potential correction or consolidation in the cryptocurrency market.
Crypto Rover: PEPE Poised for 10x Surge
Despite the recent dip, renowned crypto analyst Crypto Rover remains bullish on PEPE's prospects. He believes that the cryptocurrency still has significant room for growth.
In a recent tweet, Rover emphasized that PEPE's potential return is far from being fully realized. With its current market cap of $5.25 billion, Rover predicts that the token could easily see a 10x increase.
"Many people think that it's already too late to invest in $PEPE here," Rover tweeted. "But the truth is that $PEPE will still easily be 10x from here."
Venture Capital Firm Acquires PEPE
Meanwhile, institutional investors are seizing the opportunity to accumulate PEPE coins during the current price dip. Nascent, a venture capital firm, recently purchased 447.67 billion PEPE tokens, totaling $5.48 million, from Binance.
This strategic move has already generated a 4.8% unrealized profit of $262,000, demonstrating Nascent's confidence in the token's potential rebound. PEPE has become the leading asset in Nascent's portfolio, with an estimated total profit of $2.45 million, representing a 248% increase.
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