$PEPE I saw it up 2.2% on the movers list this morning, with volume picking up too, so I took a quick look: this coin has no real story—it’s just a meme, pure funds trading back and forth. It’s up 17% in seven days, which looks pretty exciting, but a month ago it was still 7% more expensive than it is now. In other words, the people who bought near the previous highs still haven’t broken even, so this rally isn’t cheap.
The bull case: on-chain activity is still there, the community is still around, and as long as BTC doesn’t collapse, it can keep bouncing. The bear case: volume is only 30% abo