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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. In less than a year, Pepe has already become a staple in the highly successful meme coin narrative. Within months, it registered price increases of over 15,000% and overtook popular dog coins like DOGE and Shiba Inu in gains. The success of meme coins like WIF and Pepe can be attributed to the viral and engaging nature of meme-based cryptocurrencies.
- PEPE, which surpassed its much popular counterparts, Dogecoin and ShibaInu within no time, has made both critics and huge fan following over the past one month.
- Currently working as the content lead for Australian startup CryptoTaxCalculator, Patrick has also covered the crypto industry for Canstar and The Chainsaw.
- According to the website, these tokens are set aside for future development and listing purposes.
- Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations.
- Instead, consider transferring your Pepe Coin to a hardware or software wallet you control.
The official Pepe Coin X account shared that a new team of advisors would guide the project forward and 6.9 trillion $PEPE tokens (worth about $6 million at the time) had been burned and permanently removed from the project’s supply. Pepe Coin, named after the iconic meme character, is a cryptocurrency that emerged in April 2023, riding the coattails of internet culture’s fascination with the green frog. Created as a decentralised token on the Binance Smart Chain, Pepe Coin aims to infuse the digital asset world with the irreverent spirit of its namesake. Furthermore, the meme coin space is highly competitive, with new coins always emerging. While Pepe has maintained mindshare and continued growing over an 18-month timeframe (a lifetime in crypto), there’s always the possibility that a new coin could come along and push it out of the limelight.
Should you hold Pepecoin for the long term?
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Trading how to create a dao in contracts for difference (CFDs) is riskier than conventional share trading, not suitable for the majority of investors, and includes the potential for partial or total loss of capital. You should always consider whether you can afford to lose your money before deciding to trade in CFDs or cryptocurrency, and seek advice from an authorised financial advisor. 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.
What Is Pepe? The Ethereum Meme Coin Inspired by the Iconic Cartoon Frog
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. As Pepe Coin gained popularity, several other meme coins emerged, claiming to be related to the original Pepe Coin.
Why Is PEPE Coin Rising?
On-chain analysis by Lookonchain shows a crypto address that purchased about $460 worth of the tokens shortly after launch bagged over $3.4 million in profits this week. PEPE’s recent rise, alongside mog (MOG), has been buoyed by its use as a levered bet on the growth of the Ethereum ecosystem as traders anticipate the approval of a spot ether exchange-traded fund (ETF) in the U.S. Smart contract exploits are a common risk with any type of cryptocurrency. Without proper auditing, smart contracts may intentionally or accidentally contain flaws that a person could exploit for personal gain.
What Is Pepe Cryptocurrency?
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PEPE, which surpassed its much popular counterparts, Dogecoin and ShibaInu within no time, has made both critics and huge fan following over the past one month. Frog-faced PEPE is one of the best examples of “rise to fame” which have surely changed the fortunes of many by making bumper profits for them. But, if you have missed the how to buy bitcoin for the first time bus, then the chances of catching it again seems slim as no one can predict what happens next in the crypto space. Interestingly, April was an amazing month for PEPE, and it is quite evident by the google search data.
Analysts, however, have raised concerns about the concentrated ownership of pepecoin, pointing to a handful of traders acquiring substantial amounts of PEPE when the token was released last month. In summary, the Pepe (PEPE) cryptocurrency project has emerged as a unique and vibrant addition to the blockchain ecosystem. With its strong roots in meme culture and a passionate community, Pepe has managed to transcend its comic book origins and establish itself as a new — if still burgeoning — digital asset. For example, the famous creator of Bitcoin, Satoshi Nakamoto, is still unknown to this day. “The remaining 6.9% of the supply is being held…only to be used as tokens for future centralized exchange listings, bridges, and liquidity pools. This wallet is easily trackable with the ENS name pepecexwallet.eth,” wrote the creator(s).
Moreover, the crypto market as a whole is showing strong signs of life, not least because of the victory of Donald Trump – who is perceived to be a fan of crypto generally – in the US presidential election. Bitcoin recently hit an all-time high price, and other major cryptocurrencies have also experienced significant gains. This renewed momentum in the market could bode well for Pepe Coin as investors become more confident and look to diversify their portfolios. 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 top 6 ways to make money on crypto! account, and investors should be wary of any information or promotions coming from other sources. This means that memecoins are particularly volatile, often posting double or triple-digit percentage point moves day-to-day.
Now, the cryptocurrency has a market capitalization of more than $10 billion, according to CoinMarketCap. Additionally, she said that a leading meme 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. On the contrary, PEPE has been designed to capitalize on the popularity of meme coins such as Dogecoin, Shiba Inu and others.
It is important to check any product information directly with the provider. Consider the Product Disclosure Statement (PDS), Target Market Determination (TMD) and other applicable product documentation before making a decision to purchase, acquire, invest in or apply for a financial or credit product. Contact the product issuer directly for a copy of the PDS, TMD and other documentation. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. The opinions expressed are the author’s alone and have not been provided, approved or otherwise endorsed by our partners. This article is not an endorsement of any particular cryptocurrency, broker or exchange nor does it constitute a recommendation of cryptocurrency or CFDs as an investment class.
Sign up for free online courses covering the most important core topics in the crypto universe and earn your on-chain certificate – demonstrating your new knowledge of major Web3 topics. Volt Inu and VoltiChange are affiliated with Pepe via VoltiChange’s widget integration directly onto Pepe Coin’s website. Volt Inu claims to be the first deflationary decentralised exchange (DEX), offering VoltiChange, which automatically lists and makes any Uniswap or PancakeSwap project deflationary — for free.
Since then, the trader has been gradually taking profits by sending smaller amounts multiple times a day to UniSwap, and receiving ether (ETH) in exchange. The wallet has sent $3.8 million of PEPE to UniSwap in the past month, per Arkham data, presumably to take profits, with $2.4 million of that transferred in the past 24 hours. When buying any meme coin project, not just PEPE, there are many risks that prospective buyers should know beforehand.