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Many people in the market are saying that PEPE is doomed, but I don't think so.
Four months ago, Bitcoin was still at a high, Ethereum was lying around 1450, and the whole network was singing the blues for ETH, with many predicting ETH to drop to 1000 and 800. Jokes kept coming one after another, like "ETH will forever be 2800" and "The E Guardian has arrived." The reasons sounded grandiose, but it was actually just one sentence: BTC has risen for two years, and ETH hasn't, so ETH is doomed.
As a result, ETH was directly pulled up by 5 consecutive weekly lines, and just the day before yesterday, it closed with the strongest weekly line since 2021, breaking through 4300 in one go, and the entire network immediately switched to rainbow fart mode. They say ETH is a civilization-level innovation, yet these were the same people who criticized ETH when it was below 3000.
The current scenario is almost a replay—BTC and ETH are both at high levels, PEPE is at a low level, and the entire network is once again saying that memes are not viable, with familiar reasons: this is an institutional bull market, and what is rising are things that institutions are interested in; institutions won't buy altcoins, especially memes which have no chance at all. Although I also said during my live broadcast that meme coins are not the main focus of speculation in the latter half of a bull market, as long as it’s a bull market, when the time comes, those that should rise will still rise, even in the first half of the bull market when everyone didn't have high hopes for ETH and the Ethereum ecosystem. At that time, the market's main focus was on the SOL ecosystem and meme coins, but ETH also broke through 4000 twice, and Ethereum's altcoins increased several times from the bottom without any problem. That's how the market works; when no one believes in meme coins and everyone is clearing their positions and taking losses, a leading coin like PEPE just needs a single strong weekly candle to recover all its losses, and at that time, market faith will return.