Markets
The Pepecoin cryptocurrency craze continues
8h52 ▪ 4 min read ▪ by Mikaia A.
The cryptocurrency universe has recently been rocked by the emergence of new tokens inspired by internet memes, including PEPE. These memecoins, like PEPE, have seen a meteoric rise, overshadowing other altcoins. Since its inception, PEPE has achieved impressive heights, reaching unimaginable heights. And this is far from over.
Pepecoin sets new records
THE recent SEC approval of Ethereum ETFs pushed the prices of Pepecoin and Floki by more than 27% in a week. Both altcoins, built on Ethereum’s ERC-20 standardthey now pulse to the beat of the cryptocurrency markets.
Cryptocurrency enthusiasts have seen red this month, or rather green, with the explosion in the number of blockchain addresses transacting in Pepecoin (PEPE). Within 30 daysTHE number of daily active addresses keep this meme crypto ha increased by 230%, reaching 9,830, second IntoTheBlock data. This meteoric rise far surpasses that of its camouflage counterparts. Compared, 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 the famous Pepe the Frog meme created by Matt Furie in 2005, is experiencing a recovery. The meme trend, although volatile and risky, stands out as an inevitable phenomenon. Pepecoin is therefore at the forefront of cryptocurrencies monitored by investors, demonstrating that even the most unlikely ones can sometimes become the kings of the blockchain.
Memecoin Frog Leaps to Top of Blockchain
While Wall Street took the day off for Memorial Daycryptocurrency traders were busy, pushing Pepecoin to a new high of $0.00001698. These spectacular gains have brought the annual growth of this memecoin to an impressive 1,000%.
But on Tuesday, the momentum faltered, with a drop of 4.8%. Despite this setback, most PEPE cryptocurrency holders are rubbing their hands: 97% of them are making money on paper, according to IntoTheBlock, while only 2.73% breaks even.
With the growing recognition of digital assets on Wall Street and the approval of related financial products, memecoins generate as much excitement as concern among experts. Industry leaders warn of potential pitfalls. However, the attractiveness of these digital curiosities for traders remains unchanged.
Discover our newsletter This link uses an affiliate program.
Classified 22nd among cryptocurrencies with a market capitalization of $6.75 billion, Pepecoin is making headlines. In terms of 24-hour trading volume, it ranks 7th, with $1.7 billion traded, just behind heavyweights such as Bitcoin, Ethereum, Solana and some stablecoins.
A performance worthy of a frog determined to impose itself among the financial bulls.
Maximize your Cointribune experience with our “Read to Earn” program! Earn points for every article you read and access exclusive rewards. Sign up now and start earning benefits.
Click here to sign up to “Read to Earn” and turn your passion for cryptocurrencies into rewards!
Mikaia A.
The blockchain and cryptocurrency revolution is underway! And on the day when the impacts are strong and the most vulnerable economy in the world is affected, against all hope, you will say that I was for what I chose
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.