Pepe Coin (PEPE) has recently captured the attention of cryptocurrency enthusiasts and investors alike. However, there are also a lot of questions and hesitations around it: What exactly is it? Is it really a good investment?
What is Pepe Coin (PEPE)?
Pepe Coin is a new meme coin that has quickly gained traction in the cryptocurrency market. Inspired by the famous Pepe the Frog meme created by artist Matt Furie, this digital currency combines the power of internet culture and the world of cryptocurrencies. As a meme-based cryptocurrency, Pepe Coin aims to ride the same wave of viral appeal that propelled Dogecoin (DOGE)’s meteoric rise in 2020.
Pepe Coin Airdrop
Pepe Coin was launched quietly without a presale, which means there were no taxes or fees associated with its release. The developers have not burnt any liquidity pools or renounced their contracts, making the coin’s distribution unique among new cryptocurrencies.
Pepe Coin’s token distribution strategy is designed to promote a healthy ecosystem and encourage widespread adoption. The total supply of Pepe Coin is 420,690,000,000,000 tokens. Of this supply, 93.1% was sent to the liquidity pool, with LP tokens burnt and the contract renounced. The remaining 6.9% is held in a multi-sig team wallet, earmarked for future centralized exchange listings, bridges, and liquidity pools.
$PEPE Price Analysis
Since its launch, Pepe Coin has experienced significant price increases, reaching a staggering 250% increase in value in the first twenty-four hours following the launch. This rapid growth in value demonstrates the coin’s potential in the ever-changing crypto market.
However, as with any new cryptocurrency, price fluctuations can be expected, and investors should approach cautiously. At press time, the meme token is worth $0.14 and it has decreased by 43% in the past twenty-four hours. Its trading volume has also decreased by a whopping 78%, signaling that the meme coin high has already worn off, as it tends to.
It’s interesting to note that an Ethereum account bought 1.8 trillion PEPE for $20, and then earned a tidy profit when the asset’s value increased to roughly $160,000. Even so, assuming they haven’t already sold, their original investment is now worth just $30,000.
PEPE Price Prediction
While it is difficult to predict the precise trajectory of Pepe Coin’s value, its strong connection to internet culture and recent price surges indicate that it may continue to gain attention in the short term.
Yet, from a technical point of view, the author does not think PEPE has a bright future. Its price has already tumbled significantly and the author does not see any factor in sight that might propel PEPE’s price. Maybe in a few years, it’ll take off again. But for now, it is safe to say that PEPE’s light has completely waned.
As for the question of whether it is a good investment, that depends on if you are looking for short-term or long-term returns. The author’s opinion is that you should buy it, store it safely, and forget about it for–say–five years or so. You are guaranteed to make some profit that way.
Although, note that meme tokens aren’t like Bitcoin or Ethereum, and Binance Coin. They are not hardwired to spike as dramatically as these other coins. For instance, the probability of PEPE hitting $50 someday is honestly close to zero.
Pepe Coin has made an impressive entrance into the world of cryptocurrencies, fueled by its connection to a popular internet meme and recent price surges. However, as a meme-based cryptocurrency, its potential for growth is uncertain, and as usual, investors should approach it with caution.