Can PEPE coin Bulls Show Off This Week As Meme Coin Sentiment Soars?

PEPE coin appears to be struggling to secure enough momentum for a recovery.

Could this struggle be foreshadowing what’s to come in the meme coin especially with the widening polarity regarding meme coins?

PEPE coin just completed a bearish week but arguably a noteworthy one for numerous reasons.

The meme coin’s latest downside gave up all of its November 2024 gains.

This means its previously observed confidence has been erased judging by the liquidity outflows.

Also, PEPE coin has so far demonstrated a lack of interest even though it recently tanked into oversold territory.

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The fact that PEPE coin has so far not achieved a significant bounce back is indicative of a lack of a strong bounce back.

These sentiments were echoed in the spot and derivatives segments. Spot flows flashed red at the time of observation with over $7 million worth of outflows.

Meanwhile, the derivatives segment only managed a 1.33% gain in open interest considering that it just came fromm being oversold.

Is PEPE Coin Performance a Reflection of Meme Coin Segment Performance?

A glance at other top meme coins including Dogecoin and Shiba Inu revealed that they were also struggling to find a bullish footing.

However, this observation comes on the heels of bubbling excitement around meme coins, especially through TST which recently launched on Binance.

Meme coins have been boosting market growth recently and the excitement underscores expectations of another bullish relief for this asset class.

However, a different school of thought has been brewing, expecting meme coins to continue decking.

Among those supporting this narrative include Carl Moon, who believes that liquidity is starting to flow towards altcoins that offer real value.

This duality in meme coin sentiments confirms that there is a lot uncertainty around them.

Altcoins have underperformed while meme coins enjoyed bullish spoils in the last 12 months.

Some analysts now view meme coins as one of the reasons why the Fed is still running quantitative tightening measures.

This idea was based on the massive surge of liquidity that flowed into the crypto market over the last few months.

However, this argument was countered by other arguments including that the FED does not react to meme coins.

Instead, it assesses the price changes of various consumer products to evaluate inflation data.

But what if the meme coin segment continues cooling down? Will PEPE coin still be as appealing?

While the future remains unwritten, some of the top meme coins with robust marketcaps will likely move in tandem with the rest of the altcoins.

PEPE coin already has over $3.7 million at press time, which means it is in the meme coin big leagues.

Chances that it could be one of the meme coins to survive in case demand for meme coins goes down.