Should You Buy Pepe After Its Recent Dip?

[CryptoChamp]

Pepe, the meme coin, has dropped 12% after reaching record highs earlier this week. This has investors wondering if it's a good time to buy.

Why Did Pepe Surge?

The Pepe price jump was linked to the return of an online personality known as "Roaring Kitty," who was a key figure in the meme stock craze of 2021. This triggered excitement around Pepe, similar to what happened with meme stocks back then.

Is Now the Time to Buy Pepe?

Experts say it might be a bit early. While the price has dropped, it's still significantly higher than usual.

Instead of buying now, investors might want to wait for a retest of a specific price point (around $0.00000920) which could offer better buying opportunities.

Why Are Some Investors Still Bullish on Pepe?

Despite the recent drop, many believe Pepe has room to grow. Here's why:

• Popularity: Pepe is gaining popularity, which could drive the price up.
• Market Cap: Compared to other meme coins like Dogecoin and Shiba Inu, Pepe's market cap is still relatively low. This means there's potential for significant growth.

 

[Imam]

Memecoins are super volatile, but if you're holding from here, keep an SL at break even & chill!

[KaseyReyes]

Hi. Even though the price dropped, it's still sitting pretty high. Waiting for it to hit around $0.00000920 again could be a smarter move. Yet, IMO, Pepe's got some perks—gaining popularity and a relatively low market cap compared to other meme coins like Dogecoin and Shiba Inu. So, there's potential for a decent rise down the road.

[StevenG]

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[NelsonTravis]

Honestly, its better to say away from memecoins once the hype is dead, but dyor