How the Pepe coin, fueled by pure memetic power, soared past a $1 6 billion market cap in 3 weeks and then tumbled

The past year has seen a significant trend in the crypto market, with meme coins emerging as a dominant force. Coins like Dogecoin and Shiba Inu have previously been the memecoin darlings of the crypto space, but with Pepe moving into the top 30 coins, it’s possible that it could soon earn a similar title. The official Pepe Coin team has warned investors about these copycat projects, stating that they are not affiliated with any other Pepe-branded meme coins. The team has also emphasised that all official communication will come from its official X account, and investors should be wary of any information or promotions coming from other sources.

With the presale set to end in under a month, the token and its fully operational L2 solution are expected to launch soon after. With just 22 days remaining before its launch on centralized and decentralized exchanges (DEXs), the project has already achieved remarkable milestones, raising over $40 million through its record-breaking ICO. It has also remained much higher than the 50-day and 100-day moving averages.

• PEPE coin is just like another meme coin which does not hold any fundamental and intrinsic value and has no utility.
• That’s why PEPE coin is much like Doegcoin and Shiba Inu, the only difference is that the latter are dog-based coins and PEPE is a frog-based one.
• Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations.
• This has effectively made pepe the biggest meme coin launch of 2023 in a year that saw bonk (BONK), dogwifhat (WIF) and others issued.

Should you hold Pepecoin for the long term?

The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. When assessing a crypto asset, it’s essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility. Pepe Coin is a memecoin based on the ‘Pepe the Frog’ cartoon character Matt Furie created and has no real-world utility or function. By following these steps, you can buy Pepe Coin and cut your teeth on the volatile world of memecoins. Remember always to do your own research and never invest more than you can afford to lose. This creates an interesting situation for those looking to invest in memecoins.

Apart from the project’s tribute to the famous Internet meme, Pepe Coin has some interesting features such as a deflationary or burning mechanism, a redistribution system, and a no-tax policy. These features are an important factor in gaining high visibility and community support. Some of the top cryptocurrencies within the meme coin space are Dogecoin and Shiba Inu. The term meme coin refers to cryptocurrencies named after fictional characters, animals, artwork, or something else that can be mimicked. One of their key features is that they hold little or no intrinsic value at all. The process of calling an Ethereum smart contract and launching a token is inexpensive and easy, though generating liquidity can be a more difficult challenge.

As with any investment, it’s essential to set realistic goals and never invest more than you can afford to lose. It’s worth noting that Pepe Coin’s price paypal to allow us customers to use cryptocurrencies in online shopping history is typical of many meme coins, which are known for their high volatility and unpredictability. Various factors, including market sentiment, social media trends, and the crypto market’s overall performance, can influence Pepe Coin’s price. The frog-themed token was issued in April 2023, quickly surging to a $1 billion market capitalization weeks after going live. It has since become a meme coin mainstay, reaching a $6 billion market capitalization on Thursday. This has effectively made pepe the biggest meme coin launch of 2023 in a year that saw bonk (BONK), dogwifhat (WIF) and others issued.

Pepe Unchained – Over $40M Raised and New Features Ahead of Exchange Listings

Due to the power of social media platforms such as Telegram and X, Pepe Coin gained popularity rapidly. It institutes a no-tax policy, allowing its investors to trade and transact $PEPE on DeFi exchanges without added fees. It distinguishes itself by being transparent about PEPE’s lack of utility, keeping it simple as a meme coin.

Similar Coins to Pepe

This is larger than the current total market capitalization of all cryptocurrencies. From this perspective, it’s doubtful that Pepe’s price will increase by 125,000 times and reach $1. The trader is benefitting from the breakneck rally of a coin based on the “pepe the frog” meme, a popular symbol in crypto circles. In less than three weeks, the market capitalization for the memecoin—a cryptocurrency that’s typically a joke and tool for speculation—crossed $1.6 billion, according to CoinMarketCap.

These exchanges provide a beginner-friendly manner of purchasing Pepe Coins. Someone responded on Pepe Coin’s official X account by posting a thorough explanation for these mysterious transactions. While the explanation was probably intended to reassure the community, it had the opposite effect and raised even more concerns. Her 15-year business and finance journalism stint has led her to report, write, edit and lead teams covering public investing, private investing and personal investing both in India and overseas. She has previously worked at CNBC-TV18, Thomson Reuters, The Economic Times and Entrepreneur. Yes, PEPE can crash to a new low, but it also has the potential to rally.

What do you need to know about the PEPE price?

The cryptocurrency was created as a tribute to the Pepe the Frog internet meme, created by Matt Furie, which gained popularity in the early aptos crypto how to buy 2000s. Whether or not to buy a meme coin is a personal decision that depends on your individual financial goals, risk tolerance, and investment strategy. Meme coins, including Pepe Coin, can be highly volatile and unpredictable, and their value can fluctuate rapidly. As Pepe Coin gained popularity, several other meme coins emerged, claiming to be related to the original Pepe Coin. However, it’s essential to note that not all Pepe-branded meme coins are the same. Some of these coins are copycats or even scams designed to deceive investors and capitalise on the popularity of the original Pepe Coin.

Pepe fervor is partly fueling the craze—many are still looking to “pump the frog”—although after crossing $1.6 billion, the token crashed to a market cap that’s now closer to $800 million, according to CoinMarketCap. Many of the most popular memecoins, like Dogecoin and Shiba Inu, are canine-inspired. “The dogs have had their day,” wrote the developers behind the Pepe token, “it’s time for Pepe to take reign.” That didn’t stop the token from taking off in popularity, and even Elon Musk, the CEO of Twitter and Telsa, has repeatedly jumped on the doge bandwagon.

Additionally, she said that a leading meme buying crypto in 2021 | gide for begginers coin usually emerges in each bull market cycle and achieves a market capitalization of over $10 billion. If the consensus around the Pepe community continues to strengthen and it becomes the leading meme coin of this cycle, its market cap could reach $10 billion. As the broader meme coin market took hold in 2024, thanks to the rise of coins on Solana and the popularity of launchpad Pump.fun, PEPE was flung into the spotlight as a longer-standing and in-demand token.