Can PEPE make a comeback? Traders, analysts and Pepe maxis weigh in
Pepe liquidity held strong despite the unexpected plunge. Not everybody concurs that the future is clearly intense for Pepe. Pepe may not be coming backAnalysts from Santiment warned that traders must expect “greater volatility” despite Pepe ending up being the leading trending cryptocurrency in the wake of the carpet pull claims.
Even following the statement of the brand-new direction from the Pepe team, Kaleo stated he would remain on the sidelines. Pepecoin carpet pull allegations put memecoin at riskMeanwhile, in the wake of the chaos with Pepe, one anonymous group has ventured to create yet another spin-off of the initial Pepe token, one that they declare is free from the concerns that came along with its predecessor.Speaking to Cointelegraph, the group behind the job described the brand-new PEPE token as the “real essence” of decentralized financing (DeFi). “The brand-new Pepe token is essentially what the old Pepe token ought to have been; decentralized, neighborhood driven, no group tokens and deflationary,” they stated.
Providing possible the most bearish take on Pepe was prominent trader Kaleo, who said he hoped that the memecoin “completely collapses.” This may be a controversial take, but at this moment I hope $PEPE entirely collapses. While I comprehend a community has actually developed beyond the creators – the fact stays, as long as the coin endures and does well – the founders continue to do well with it.And they dont …– K A L E O (@CryptoKaleo) August 26, 2023
The biggest new memecoin of 2023, Pepe (PEPE) suffered among the worst possible fates that can befall a new crypto possession; a partial rug pull– after its confidential developers abruptly offered nearly $16 million worth of the token on Aug. 24. The main Pepe X (formerly understood as Twitter) account discussed the drop was due to “3 ex-team members” going behind their back and selling the tokens without their knowledge– a relocation that saw the rate of Pepe plummet as much as 26% in the days following, without much break. a statement to the $PEPE community: Yesterday on August 24th, 2023, a series of unexpected transactions occurred from the $PEPE multisig CEX Wallet in which ~ 16 Trillion $PEPE tokens (worth approximately $15m USD) were moved to various crypto exchanges (OKX, Binance, … pic.twitter.com/iZmXV1TAvw— Pepe (@pepecoineth) August 26, 2023
Pepe may not be coming backAnalysts from Santiment cautioned that traders must anticipate “higher volatility” despite Pepe ending up being the leading trending cryptocurrency in the wake of the rug pull accusations. Providing possible the most bearish take on Pepe was popular trader Kaleo, who stated he hoped that the memecoin “entirely collapses. Even following the statement of the brand-new direction from the Pepe team, Kaleo said he would stay on the sidelines. Pepecoin carpet pull allegations put memecoin at riskMeanwhile, in the wake of the chaos with Pepe, one confidential group has ventured to develop yet another spin-off of the initial Pepe token, one that they claim is free from the concerns that came along with its predecessor.Speaking to Cointelegraph, the group behind the project described the new PEPE token as the “real essence” of decentralized finance (DeFi). “The brand-new Pepe token is essentially what the old Pepe token should have been; decentralized, community driven, no team tokens and deflationary,” they said.
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Other Questions People Ask
What do traders think about the possibility of PEPE making a comeback?
Traders have mixed feelings about PEPE's potential for a comeback. While some remain optimistic, citing strong liquidity, others like prominent trader Kaleo express skepticism, suggesting that the memecoin may not recover. Analysts from Santiment have also warned traders to brace for greater volatility, indicating that the future remains uncertain. This divergence in opinions highlights the ongoing debate within the trading community regarding PEPE's viability.
How have analysts responded to the question of whether PEPE can make a comeback?
Analysts have provided cautious insights regarding PEPE's future, emphasizing the need for traders to expect increased volatility. Despite PEPE trending as a leading cryptocurrency after the rug pull allegations, experts like those from Santiment suggest that the situation is precarious. They advise traders to remain vigilant and consider the risks involved, especially given the recent turmoil surrounding the token. This analytical perspective underscores the complexity of predicting PEPE's trajectory.
What are the implications of the recent rug pull on PEPE's potential comeback?
The recent rug pull incident has significantly impacted PEPE's potential for a comeback. Following the sale of nearly $16 million worth of tokens by ex-team members, confidence in the token has been shaken, leading to a sharp price decline. This event has raised concerns among traders and analysts alike, with many questioning whether PEPE can regain its footing in the market. The fallout from this incident may hinder any immediate recovery efforts for the memecoin.
What is the new PEPE token and how does it relate to the original in terms of a comeback?
The new PEPE token has emerged as an alternative that claims to embody the true essence of decentralized finance (DeFi), distinguishing itself from its predecessor. The creators assert that this new token is community-driven, deflationary, and free from the issues that plagued the original PEPE. While this spin-off aims to attract those disillusioned by the original token's challenges, its success in facilitating a broader comeback for the PEPE brand remains to be seen. Traders are watching closely to see if this new iteration can restore confidence in the community.