[ad_1]
Disclaimer: The data introduced doesn’t represent monetary, funding, buying and selling, or different sorts of recommendation and is solely the author’s opinion.
Amidst a bearish development this week, Pepe [PEPE] couldn’t maintain its place among the many high 100 cryptocurrencies by market measurement.
Sensible or not, right here’s PEPE’s market cap in BTC’s terms
Apart from, PEPE had suffered a significant rug pull in direction of the tip of final month. 16 trillion PEPE tokens value $15 million flooded crypto exchanges, like Binance [BNB], OXK, and Bybit.
The staff blamed rogue gamers for the catastrophe.
an announcement to the $PEPE group:
Yesterday on August twenty fourth, 2023, a sequence of sudden transactions happened from the $PEPE multisig CEX
Pockets by which ~16 Trillion $PEPE tokens (value roughly $15m USD) had been transferred to varied crypto exchanges (OKX, Binance,… pic.twitter.com/iZmXV1TAvw— Pepe (@pepecoineth) August 26, 2023
Nonetheless, PEPE has develop into some of the widespread memecoins in current days, merely due to the way it has stunned traders on a number of events. Not solely did the meme coin pose a risk to gamers like Shiba Inu [SHIB] and Dogecoin [DOGE], but it surely may additionally attain the $1 billion market cap mark quickly.
ChatGPT additionally had a number of attention-grabbing ideas on PEPE, and gave insights into what the meme coin’s future may seem like.
ChatGPT’s tackle PEPE’s efficiency
PEPE’s journey has been fascinating since its inception, because it registered large features proper off the bat. In truth, the coin has been persistently on the trending checklist on CoinMarketCap for a lot of weeks, proving its reputation within the crypto house.
Nevertheless, once I posed a query to ChatGPT about the potential of the meme coin changing into a market chief, in true AI trend, it merely responded,
“The potential for Pepecoin (PEPE) or any cryptocurrency to develop into a market chief depends upon a fancy interaction of things. These elements embrace know-how, adoption, group assist, use instances, and market sentiment.”
The response of the jailbroken model of ChatGPT was not too totally different. It opined,
“To develop into a market chief, PEPE would want to reveal real-world utility, appeal to a considerable person base, and constantly innovate. The crypto market is extremely aggressive and dynamic, with quite a few tasks vying for consideration.”
Supply: ChatGPT
Let’s have a look at PEPE’s metrics
PEPE’s worth fell practically 10% during the last seven days. At press time, it was buying and selling at $0.000000617.
It’s at all times higher to do your individual analysis; which is why I made a decision to try the memecoin’s on-chart indicators to get a greater understanding of the state of affairs.
Each the meme coin’s Relative Power Index (RSI) and Cash Circulation Index (MFI) rested under the impartial 50-mark. Its On Stability Quantity (OBV) additionally mirrored a downtick.
In conclusion, PEPE’s on-chart metrics level in direction of an additional bearish worth motion.
Supply: PEPE/USD, TradingView
However once we requested ChatGPT if it sees PEPE’s worth reaching $1 anytime quickly, it couldn’t present a timeline.
Supply: ChatGPT
The meme coin battle is getting thrilling
Not like PEPE’s worth motion, the value of Dogecoin [DOGE] is almost the identical because it was every week earlier. At press time, DOGE was buying and selling at $0.06157.
How a lot are 1,10,100 PEPEs worth today?
The worth of Shiba Inu [SHIB] dropped 2% inside the final seven days. At press time, SHIB was exchanging arms at $0.000007302.
After we requested the AI bot about the potential of PEPE beating Dogecoin and Shiba Inu within the meme coin battle, it mentioned that it has the potential to leapfrog each.
Supply: ChatGPT
[ad_2]
Source link
