Pepe Coin is the latest cryptocurrency to experience a meteoric rise in value, with an astonishing 900% increase within just two days of its debut. The meme coin's market capitalisation went from zero to nearly $100m in just a week, becoming a storm of hype in the cryptocurrency world. However, unlike other prominent cryptocurrencies such as bitcoin and Ethereum, Pepe Coin has no particular use and its only notable attribute is featuring the well-known internet meme character Pepe the Frog as its mascot.
Pepe Coin made its debut on April 17 and quickly achieved $30m in trading volumes on the Uniswap decentralised exchange. One investor exchanged 0.125 ether for a staggering 5.9 trillion Pepe Coin tokens, with the potential return being about 4,500 times the initial investment. Pepe Coin's low liquidity pool could pose a challenge for selling such a large number of tokens at the current price.
Pepe Coin's official Twitter account touts it as the "most memorable meme coin in existence," taking a jab at prior generation meme coins such as dogecoin and Shiba inu. The coin's subversive credentials include a circulating supply of 420m, a cannabis reference, and its debut on April 20th, also known as 4/20, an informal holiday for marijuana enthusiasts worldwide.
Despite its popularity, Pepe the Frog became controversial when it was appropriated by the alt-right during Donald Trump's presidential campaign, leading to its branding as a hate symbol by the Anti-Defamation League.
PepeCoin price today is $ 0.000001309 with a 24-hour trading volume of $ 435.47M, market cap of $ 550.59M, and market dominance of 0.05%. The PEPE price increased 114.00% in the last 24 hours.
PepeCoin reached its highest price on May 1, 2023 when it was trading at its all-time high of $ 0.000001426, while PepeCoin's lowest price was recorded on n/a when it was trading at its all-time low of $ 0.00. The lowest price since it's ATH was $ 0.000001164 (cycle low). The highest PEPE price since the last cycle low was $ 0.000001374 (cycle high). The PepeCoin price prediction sentiment is currently bullish, while Fear & Greed Index is showing 63 (Greed).
Risk
Despite the increasing attention and popularity of cryptocurrency, the risk in the crypto world remains on high alert. With the market being highly volatile and unpredictable, it is challenging to predict what will happen next. While some may believe that they have a good understanding of the market and its behavior, no one can accurately predict its movements with certainty. As such, it is essential to exercise caution and make informed decisions when investing in cryptocurrencies. While there have been significant gains for some, there have also been significant losses for others, highlighting the importance of risk management in this space. Despite the risks, many continue to be drawn to the potential rewards of investing in cryptocurrency, and as the market continues to evolve, it remains a fascinating and exciting space to watch.
inputs from/ Yahoo finance, Coincodex,Tradingview
