February 13th, 2024 at 9:20 am UTC · 3 min read
Given its enormous circulating quantity of over 420 trillion tokens, it seems quite unlikely that PEPE Coin would see a 10x gain in price during 2024. The enormous issue is evident when one looks at the volume of this circulating supply. The coin’s market valuation would soar to an astounding $420 trillion in such a case.
To put this in perspective, the whole economy of the globe, estimated to be at $94 trillion, is far smaller than this amount. The possibility that PEPE could have a market value this enormous goes well beyond what is now economically feasible.
Moreover, PEPE is trading in a largely bearish state. Since January 11, PEPE has recorded a steady sequence of lower highs. Also, the decline has caused the meme coin to hit lower lows while forming a descending channel.
PEPE and BONK, two prominent meme coins, have encountered challenges after they failed to maintain their hype earlier this year. With an unclear roadmap and unfulfilled promises, they raised speculations among their communities.
Despite irregular surges due to PEPE’s memetic power, its value has faced a rapid decline. Its inability to establish a distinct value or purpose is the main reason for its unsustainability. Investors are losing faith in the project, causing it to fall from its current ranking. Pepe Coin lost 20.81% within a month, and moving averages started showing a strong sell market.
Likewise, inadequate projections and unkept promises are the roots of BONK’s poor performance. BONK, which enjoyed a short-term price boom, owes a large portion of its rise to its association with Solana. Although BONK promised a steady burn rate, it hasn’t met this promise since January, disappointing its community and casting doubt on its solid deflationary position.
With the uncertainty surrounding PEPE and BONK, investors are looking towards other stable projects for their investments. Algotech (ALGT) had emerged as the perfect avenue for investors after a positive reception by investors. The project has recently concluded its private seed round with over $1.1 Million raised and is expected to perform even better in presale.
The TradFi platform is expected to grow significantly beyond its current presale price of $0.04, with predictions estimated to reach an all-time high of $0.15 before it gets listed on more exchanges, indicating significant potential earnings of 275%. The deflationary ERC-20 coin ensures continued reinvestment back into development to support growth.
For crypto enthusiasts and DeFi investors, Algotech (ALGT) is the project that offers the most exciting growth prospects. The innovative technology and cutting-edge use cases will continue to become more relevant as demand for advanced trading tools increases.
For more details about this project:
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