01 June 2023 15:32, UTC
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PEPE, the once sensational meme coin that lost its grip for the better part of last month, is on a targeted recovery today, trading up 5% over the past 24 hours. The digital token is changing hands at $0.000001323 and has gradually started erasing some of the losses it has accrued over the past week.
PEPE is tactfully trailing the current positivity in the broader digital currency ecosystem, and thus far, it has been able to accrue a significant trading volume of more than $152.4 million.
This trading volume is the 23rd largest in the industry at this time, according to data from CoinMarketCap, an indication of renewed interest in the frog-themed meme coin.
With June opening up to new realities for many altcoins, the assumption of whether or not investors will go all out to back PEPE so as to introduce a sustained revival hinges on several factors. These factors are primarily based on whether or not the developers behind the token are introducing new products and services beyond the baseless fun that fueled its parabolic growth in the first month of its launch.
Stablecoin resurgence drive: Here are clear leaders
As the broader meme coin niche strives to regain its relevance, chances are that new entrants like PEPE and Milady Meme Coin (LADYS) will play a background role.
Sentimental price surges are only fit to push the price of an asset to an all-time high (ATH), especially as concerns utility. What helps tokens to sustain whatever growth they have picked up when the ovation is louder will be their core model for growth.
In line with this, the old guards, Dogecoin (DOGE) and Shiba Inu (SHIB), are bound to lead the meme coin revolution this month as they have both the stability and the inherent growth model to lead the market. With a series of new milestones hit, these meme coins are worth watching out for this month.
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