Timber: So Long PEPE, We Hardly Knew Ye

Having lost 26% of its value in the past 24 hours, PEPE is quickly losing steam. The recent memecoin sensation recently hit a $1 billion total market capitalization and is now sitting at a value of $742 million. Personally, I've yet to take the plunge into $PEPE and will probably continue to sit on the sidelines. It seems to me that the so-called frog coin is going the way Dogecoin went when Elon Musk appeared on Saturday Night Live in 2021.

Here we have the 1-month chart for PEPE:

And a view of DOGE from its epic run-up to subsequently epic collapse:

When you look at it that way, it makes for one sad frog.

Let's examine the "Pepe Roadmap" and see where things may be headed. At least, let's look at what the developers have laid out and think logically:

• Phase One: Listing on CoinMarketCap DONE

• Phase Two: Getting $PEPE trending on Twitter DONE

• Phase Three: Getting listed on "Tier 1" exchanges

So, basically the entire bull case behind PEPE is getting it trending and gaining popularity. In my opinion, there is no real utility or use-case other than how popular the memecoin can get. So, with this in mind, let's have a look at the interest in it via Google Trends search.

Much like the token price chart, the interest chart is declining. If you gotta meme, you gotta meme. But, at this point, it seems like the joke's over.