Pepe coin is one of the trending meme coins that has recently appeared in the crypto space. While the token has fallen in value, a former Dogecoin millionaire offers some insights on PEPE.
Glauber Contessoto, aka Dogecoin millionaire, taken to Twitter to determine an appropriate time period to invest in the meme coin.
Dogecoin Millionaire recommends the best time for PEPE investments
According to the crypto strategist, enthusiasts should wait for the meme token to drop by 80% to 90% from its all-time high (ATH) of $0.00000431. Then it is the right time to invest in PEPE again.
Contesssoto’s tweet has received a lot of criticism, such 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 was illiquid at the time or would have purchased 1 billion Floki Inu coins.
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Contesssoto came to limelight for his investment insights by top media outlets such as CNBC. In early 2021, he became more popular. Many publications covered Contessoto’s investment progress, citing how he put his savings into Dogecoin investments.
His investments made 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 significant portion of his net worth because he refused to sell and the largest meme coin by market cap, DOGE, is down nearly 90% from his 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’. After its launch, PEPE quickly gained popularity as the token recently led to the explosion of meme coins.
According to data from CoinGecko, PEPE has seen an increase of more than 21,950% in the past month. PEPE created a record as the fastest Ethereum coin to reach the $1 billion market cap in less than a month after its launch.
However, the meme coin is facing fierce volatility, which has eroded its value and market cap. Now, PEPE is trade at $0.0000016525, indicating a 2.25% decline over the past 24 hours.
Also, the value of the meme coin is down more than 60% from the ATH of $0.00000431. The market cap currently stands at $660.9 million.
Featured image from Pexels and chart from Tradingview
