TL;DR:

PEPE has skyrocketed in value, solidifying its position as the third-largest meme coin. ChatGPT analyzes its prospects of becoming the dominant player in the category by the end of 2024.

PEPE's Prospects:

The frog-themed meme coin PEPE has emerged as a crypto frontrunner, experiencing a triple-digit price surge within the past week. As of November 14th, it reached an all-time high of $0.00002438, driving its market capitalization above $10 billion.

Currently, PEPE ranks as the third-largest meme coin behind Dogecoin (DOGE) and Shiba Inu (SHIB). ChatGPT, an advanced chatbot, was consulted to assess its potential to become the category leader by the end of 2024.

ChatGPT suggests that such a scenario is feasible but contingent on several factors. Firstly, PEPE must expand its user base and community while establishing practical use cases that appeal to a broader audience.

Secondly, securing support from major exchanges is crucial. Such listings would enhance PEPE's accessibility, bolster its liquidity, and potentially trigger a price spike. Coinbase and Robinhood's recent listings played a significant role in its latest price surge.

Regulatory influences, market sentiment, and speculation are additional factors that may impact PEPE's trajectory, according to ChatGPT.

As of writing, PEPE's market capitalization stands at approximately $9.1 billion, indicating a $45 billion gap with Dogecoin, the sector leader.

Price Predictions:

Market analysts anticipate a potential further rally for PEPE in the short term. User Max interprets the price retreat observed on November 15th as a "local drop."

"If we witness a local drop to the listing price level, I anticipate a swift upward reaction. Longs will defend their entry points, underwater shorts will settle near break-even levels, and token sellers will repurchase at this apparent demand zone. Higher prices are imminent. Don't fret. The frog's journey is just beginning," Max projected.

Scient echoes a similar sentiment, describing the current price correction as a "fakeout" that may be succeeded by new highs before the weekend.