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Pepe 2.0 rockets almost 1,000% in a week; Can it hit $100m market cap?

Pepe 2.0 rockets almost 1,000% in a week; Can it hit $100m market cap?

Last week, Pepe 2.0 (PEPE2.0), “the reincarnated version” of the popular meme coin Pepe (PEPE), announced its launch. 

According to the press release, Pepe 2.0 was launched to “rectify” its predecessor’s past mistakes. Even though the original PEPE token continues to trade independently, the new version aims to represent a fresh start, acknowledging PEPE’s missteps such as the “unfortunate blacklisting of certain investors and launching during inconvenient times.”

At press time on July 4, PEPE2.0 was changing hands at $0.0000000487, up 14.36% in the past 24 hours. 

On a weekly chart, however, the meme coin saw a total price increase of nearly 1,000%, propelling its market cap beyond $20 million. Yet, it is important to note that the market capitalization is not verified by CoinMarketCap, but is rather based on the project’s self-reported circulating supply data. 

PEPE2.0 1-week chart. Source: CoinMarketCap

As observed from the chart, the price of Pepe 2.0 peaked at $0.0000001149 on June 29, representing a price increase of more than 2,500%, before experiencing a correction. 

What’s next for PEPE 2.0?

Following Pepe 2.0’s dramatic trading debut, it is no surprise that investors are debating how high the meme coin may rise.

On the upside, assuming that PEPE 2.0 manages to overcome key resistance levels and retains high trading volumes, a continuation of the ongoing uptrend is likely. The crypto asset currently has more than 10,600 holders, while its 24-hour volume stands at nearly 6.2 million, according to DEXTools

On the other hand, it is important to take into consideration high meme coin volatility, as well as the fact that this is still a very fresh project. Like most other cryptocurrencies of this type, PEPE 2.0 currently has no specific use cases, similar to the original PEPE token. 

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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