Dogecoin Community Declares Rival Pepe Dead: Which Coin Will Fill Your Bags Better? A Comprehensive Report

  • PEPE, a recent meme coin inspired by the Pepe the Frog meme, is reportedly facing a significant decline in price, leading some to claim that it is “officially dead.”
  • Glauber Contessoto, a self-proclaimed “Dogecoin millionaire,” expressed his belief that PEPE is no longer viable, drawing comparisons to controversial financial expert Jim Cramer and his inaccurate predictions.

PEPE, a meme coin that drew inspiration from the popular Pepe the Frog internet meme, has encountered a substantial decline in price, leading to speculations about its viability. Glauber Contessoto, known as the self-proclaimed “Dogecoin millionaire,” has declared that PEPE is “officially dead,” sparking discussions within the crypto community.

In response to Contessoto’s statement, a Twitter user likened the “Dogecoin millionaire” to Jim Cramer, a well-known financial expert and host of CNBC’s Mad Money. Cramer’s unpredictable and often inaccurate predictions have earned him a reputation within the crypto community, with some jokingly suggesting that if Cramer is bearish, crypto prices are likely to rise. The comparison to Cramer suggests skepticism towards Contessoto’s views on PEPE.

Contessoto further explained that he had previously called the top market capitalization for PEPE at $1.5 billion and advised selling, but his advice went unheeded. Since then, he claims that the price of PEPE has been plummeting day after day. It is worth noting that Contessoto’s status as a “Dogecoin millionaire” has been compromised, as the price of Dogecoin currently sits at 90.28% below its all-time high in 2021, trading at $0.7376.

PEPE, which emerged in April as a meme coin based on the Pepe the Frog meme, has experienced a decline of 70.9% from its all-time high reached on May 5. Currently, it is trading at $0.000001248. However, it is noteworthy that Dogecoin took two years to reach its current “bottom,” causing Contessoto to lose his “Dogecoin millionaire” status. In contrast, PEPE’s decline occurred in less than a month.

Despite its popularity among cryptocurrency whales and major players in the market, PEPE lacks utility and faces uncertainty regarding future developments. However, some experts believe that it may attract new retail investors to the cryptocurrency market, potentially leading them to transition towards more established cryptocurrencies like Bitcoin.

PEPE’s decline raises questions about the sustainability of meme coins in the crypto landscape. While tokens like Shiba Inu (SHIB) and Dogecoin have gained significant attention, meme coins like PEPE lack clear utility beyond their meme-inspired origins. The trajectory of PEPE and its impact on retail investors will be closely watched to determine its long-term prospects in the cryptocurrency market.

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About Author

Collin is a seasoned Bitcoin investor who entered the crypto scene during its early stages and has since become a veteran trader in both the cryptocurrency and forex markets. His journey began in 2012 when he made his first investment in Bitcoin, marking the beginning of his deep-rooted passion for blockchain technology and digital assets. With a mission to demystify the intricacies of blockchain for the masses, Collin endeavors to bring the world of cryptocurrencies closer to everyone. His insightful reports are dedicated to shedding light on the latest developments and innovations within the realms of Bitcoin, Ethereum, Ripple (XRP), IOTA, VeChain, Cardano, Hedera, and numerous other cryptocurrencies. Collin's in-depth analysis and commitment to providing accessible information make him a trusted source for both novice and experienced crypto enthusiasts. Collin's academic background includes a Master's Degree in Business Education, which has equipped him with a solid foundation in financial markets and investment strategies. Over the past decade, he has amassed invaluable experience working with various startups across the globe, enriching his knowledge and understanding of the ever-evolving cryptocurrency landscape. With his wealth of expertise and dedication to empowering others with crypto knowledge, Collin continues to be a driving force in the cryptocurrency community.

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