Pepe coin is one of the popular meme coins that has emerged in the crypto space recently. Although the token value has declined, an old Dogecoin millionaire has some opinions about PEPE.
Crypto strategist Glauber Contessoto, also known as the Dogecoin millionaire, revealed a suitable time to invest in meme coins on Twitter.
Dogecoin Millionaire Recommends Best Time to Invest in PEPE
According to the crypto strategist, fans should expect PEPE to drop by 80% to 90% from its all-time high (ATH) value of $0.00000431. Then, it will be the right time to reinvest in PEPE.
Contesssoto’s tweet drew criticism from many users who indicated that the PEPE pump had ended. Some users described his suggestion as “foolish,” while others recommended returning to DOGE. Others asked why he did not adopt the same investment approach for Floki Inu. In response, he said that it was illiquid at the time or that he would buy 1 billion Floki Inu coins.
Related Reading: DeFi’s Rising Star: Why Rook DAO is the Best Performing Token of 2023
Contesssoto attracted the attention of leading media outlets such as CNBC for his investment views. He became more popular at the beginning of 2021. Many publications about his investment progress mentioned that he had put his life savings into Dogecoin investment.
He emerged among DOGE millionaires due to his boldness and assistance with relevant crypto strategies.
However, he lost a significant portion of his net worth because he refused to sell, and according to CoinMarketCap, DOGE, the largest meme coin in terms of market value, has dropped by almost 90% from its ATH in 2021.
PEPE’s Journey So Far
Pepe Coin is a meme coin developed on the Ethereum blockchain and is associated with the internet meme “Pepe the Frog.” After its launch, PEPE quickly gained popularity as the token that led to the recent meme coin boom.
According to data from CoinGecko, PEPE has seen an increase of more than 21,950% in the last month. PEPE set a record as the fastest Ethereum coin to reach a market value of $1 billion in less than a month after its launch.
However, the severe volatility faced by the meme coin has reduced its value and market value. Now, PEPE is trading at $0.0000016525, down 2.25% in the last 24 hours.
PEPE has declined slightly on the chart l Source: TradingView
Additionally, the value of the meme coin has dropped by more than 60% from its all-time high value of $0.00000431. Its market value is currently $660.9 million.
