PEPE reached a new peak on May 15, nearly touching a $5 billion market cap, positioning it as the third-largest meme coin. To potentially lead its category, PEPE must sustain its price surge, garner community backing, and secure influential endorsements, as advised by ChatGPT.

Examining PEPE’s Prospects:

Pepe (PEPE), known for its frog-themed meme, has gained increased attention recently due to its rapid price surge. As reported by CryptoPotato, it hit a record high on May 15, approaching a $5 billion market cap, making it the third-largest meme coin after Dogecoin (DOGE) and Shiba Inu (SHIB).

We consulted ChatGPT to assess PEPE's potential to maintain its momentum and emerge as the top player in its category in 2024.

The AI-driven chatbot highlighted several critical factors pivotal for such a transition, primarily emphasizing market momentum:

“If PEPE continues its current trajectory of notable price gains, surpassing other meme coins in market cap and trading volume, it stands a chance to become the leading meme coin.”

Additionally, community support and endorsements from influential figures are crucial. Notably, a study from last year positioned Shiba Inu (SHIB) with the strongest community base, while PEPE ranked third.

Regarding endorsements, it's worth noting that Elon Musk, CEO of Tesla, favors Dogecoin (DOGE), contributing to its dominance. However, a recent controversial image posted by Musk featuring a frog in military attire was interpreted by some as a pro-PEPE move.

PEPE's Remarkable Journey in a Year:

Launched in April 2023, PEPE quickly gained traction, accompanied by a surge in price and support from major cryptocurrency exchanges. Notable platforms facilitating PEPE trading include Binance, Bybit, OKX, Coinbase, and Bitget.

The token's rapid rise has offered lucrative opportunities for astute traders. However, investors should be mindful of PEPE's volatility and the inherent risks associated with meme coins before engaging in the ecosystem.