Pepe coin is one of the trending meme coins that emerged recently in the crypto space. Though the token has retracted in value, a former Dogecoin millionaire offers some insights on PEPE.
Glauber Contessoto, aka Dogecoin millionaire, took to Twitter to lay out a suitable period to invest in the meme coin.
Dogecoin Millionaire Recommends The Best Time For PEPE Investment
According to the crypto strategist, enthusiasts should wait till the meme token drop by 80{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} to 90{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} from its all-time high (ATH) of $0.00000431. Then, that will be the right time to invest in PEPE again.
Contesssoto’s tweet has attracted much criticism, as many users stated that the PEPE pump is over. Some users called his suggestion “unintelligent,” while others advised him to return to DOGE. A particular user asked DOGE Millionaire why he didn’t take the same investment approach for Floki Inu. In response, he said he wasn’t liquid then or would have bought 1 billion Floki Inu coins.
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Contesssoto emerged in the spotlight due to coverage from top media outlets such as CNBC for his investment insights. He gained more popularity at the beginning of 2021. Many publications related Contessoto’s investment progress, citing how he threw his life savings into Dogecoin investment.
His investments saw him emerge as one of the DOGE millionaires, increasing his popularity for being bold and helping with relevant crypto strategies.
However, he has lost a substantial part of his net worth as he refused to sell and the largest meme coin by market cap, DOGE, has declined by almost 90{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} from its ATH in 2021, according to CoinMarketCap.
The Journey So Far
Pepe Coin is a meme coin developed on the Ethereum blockchain with a link to the internet meme ‘Pepe the Frog’. Following its launch, PEPE rapidly gained popularity as the token led to the explosion of meme coins recently.
According to data from CoinGecko, PEPE has seen an increase of over 21,950{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} within the past month. PEPE created a record as the fastest Ethereum coin to hit the $1 billion market cap in less than a month after its launch.
However, the meme coin faces fierce volatility, which has drained its value and market cap. Now, PEPE is trading at $0.0000016525, indicating a drop of 2.25{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} over the past 24 hours.
Also, the value of the meme coin has plummeted by over 60{ee212069bfc2680724ddd6b0d505d051cd6a6be760d8da0a6a57844f2abae5c8} from its ATH of $0.00000431. The market cap currently sits at $660.9 million.
Featured image from Pexels and chart from Tradingview