We asked ChatGPT if Pepe (PEPE) can become the biggest meme coin this year

TL;DR

PEPE has increased in value, establishing itself as the third largest meme coin. ChatGPT assessed its chances of becoming the largest in its niche before the end of 2024. What are PEPE’s chances?

Frog-themed meme coin Pepe (PEPE) has been one of the crypto leaders this past week, posting a triple-digit price increase. On November 14, it hit an all-time high of $0.00002438, while its market capitalization exploded above $10 billion. Then the rating went back a bit.

PEPE is currently the third largest meme coin behind Dogecoin (DOGE) and Shiba Inu (SHIB). We decided to take the brains out of ChatGPT’s AI by asking if it can become the biggest in its field before the end of 2024.

The advanced chatbot that enables interactive conversations estimates that this scenario is not completely off the cards, but it will depend on several factors. On the one hand, PEPE will need to expand its user base and community size and “establish practical use cases that resonate with a broad audience.”

Second, the frog-themed meme coin should secure additional support from major exchanges. These listings will make PEPE more accessible, increase its liquidity, which could lead to higher prices. Let’s remember that its last upswing was partially driven by Coinbase and Robinhood, which allowed services to be traded with the asset.

The regulatory environment, market sentiment and speculation are the next elements that may play a role (according to ChatGPT).

At the time of writing, PEPE’s market cap is around $9.1 billion. That means a $45 billion gap between it and industry leader Dogecoin (DOGE).

Price forecasts

Many market watchers believe PEPE could be on the verge of another near-term rally. The X Max user claimed that the slight price drop seen on November 15 is a “local drop”.

“I think if we had a local drop in the quote price level, we would see a quick reaction higher. The longs will protect their entry, the underwater shorts will close near breakeven, and the token sellers will buy back into that obvious point of demand. More soon. Don’t worry. The frog is just getting started.”

Scient shared a similar thesis, describing the current situation as a “false correction,” which could be followed by new peaks this weekend.

SPECIAL OFFER (Sponsored) Binance Free $600 (Exclusive to CryptoPotato): Use this link to register a new account and receive an exclusive welcome offer of $600 to Binance (full details).

2024 LIMITED OFFER on BYDFi Exchange – Up to $2888 Welcome Reward, Use this link to register and open a 100 USDT-M position for free!