Memecoins
The Pepecoin cryptocurrency craze continues
8:52 a.m. ▪ 4 min read ▪ by Mikaia A.
The crypto world has recently been shaken by the emergence of new tokens inspired by Internet memes, including PEPE. These memecoins, like PEPE, have seen a meteoric rise, eclipsing other altcoins. Since its inception, PEPE has achieved impressive milestones, reaching unimaginable heights. And it’s far from over.
Pepecoin sets new records
THE recent SEC Approval of Ethereum ETFs propelled the prices of Pepecoin and Floki by more than 27% in one week. The two altcoins, built on Ethereum’s ERC-20 standardnow vibrates to the rhythm of the crypto markets.
Crypto enthusiasts saw red this month, or rather green, with the explosion in the number of blockchain addresses transacting Pepecoin (PEPE). In 30 daysTHE number of daily active addresses hold this crypto meme increased by 230%, reaching 9,830, according to IntoTheBlock data. This meteoric rise far exceeds that of its mimetic counterparts. In comparison, Floki’s active addresses only increased by 179%, while addresses of the venerable Dogecoin have painfully increased by 10% reaching 53,000.
Launched last April with relative indifference, Pepecoin, inspired by famous Pepe the Frog meme created by Matt Furie in 2005, is experiencing a resurgence. The meme trend, although volatile and risky, is emerging as an unavoidable phenomenon. Thus, Pepecoin is at the forefront of cryptocurrencies monitored by investors, demonstrating that even the most improbable can sometimes become the kings of the blockchain.
The memecoin frog leaps to the top of the blockchain
As Wall Street took a day off to Remembrance Daycrypto traders were busy, propelling Pepecoin towards a new high of $0.00001698. These spectacular gains brought this memecoin’s annual rise to an impressive 1,000%.
But on Tuesday, the momentum ran out of steam, with a drop of 4.8%. Despite this setback, most PEPE crypto holders are rubbing their hands: 97% of them record gains on paper, according to IntoTheBlock, while only 2.73% break even.
With the growing recognition of digital assets on Wall Street and the approval of associated financial products, memecoins arouse both enthusiasm and concern among experts. Industry executives warn of potential pitfalls. Yet the appeal of these digital curiosities for traders remains intact.
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Class 22nd among cryptocurrencies with a market capitalization of $6.75 billion, Pepecoin makes headlines. In terms of 24-hour trading volume, it ranks 7th, with $1.7 billion traded, just behind heavyweights like Bitcoin, Ethereum, Solana and a few stablecoins.
A performance worthy of a frog determined to establish itself among the financial bulls.
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Mikaïa A.
The blockchain and crypto revolution is underway! And the day when the impacts are felt on the most vulnerable economy in this world, against all hope, I will say that I had something to do with it
DISCLAIMER
The views, thoughts and opinions expressed in this article belong solely to the author and should not be considered investment advice. Do your own research before making any investment decisions.