One such cryptocurrency is Pepe Coin (PEPE) which came to light due to the meme culture of Pepe the Frog. Currently priced at $0. The token, with an identification of 057515, has seen a 2. A 21 percent rise within the last 24 hours. At the moment, the company has a market capitalization of more than $3. From its launch at a worth of $16 billion, Pepe has quickly risen to become the 25th largest crypto by market cap. Although it started off as a meme cryptocurrency, Pepe’s recent performance and market standing can be an indication that investors are indeed keen on this asset as they should be.
In the meantime, the 24-hour trading volume of Pepe Coin is $465. It recorded 45 million, this is 14 percent more than the previous year. 51 percent increase in market trading volume. Considering that it is the 13th most traded cryptocurrency and has a high trading volume, this shows that the token is in high demand. The company has a volume to market capitalization ratio of 14. The data shows that 67% of Pepe’s market cap is rather invested and traded which implies that the token and its buying and selling happen more frequently. It becomes important for a cryptocurrency to sustain the price stability and give traders an opportunity to enter and exit the market without causing large price swings.
The total number of Pepe Coins in the market is limited to 420. 69 trillion tokens, all tokens are in use at the moment. This supply cap is a hallmark of Pepe and fits into the stereotype of the meme coins with huge supply and very low priced tokens. The total fully diluted market capitalization, which counts all tokens in circulation and supply, is $3. 17 billion. This figure shows the total market capitalization of the token even at the current low price per token.
Pepe Coin has its main advantage in the fact that it is a meme coin that can be compared with Dogecoin (DOGE) and Shiba Inu (SHIB). Meme coins are defenseless by community, marketing campaigns, and their cultural significance in the market than the technological innovation behind them. Pepe has been able to capture the meme phenomenon and has attracted retail investors and speculators to engage in trading in order to capture price swings and market mania.
Perhaps, one of the biggest assets for Pepe Coin is the possibility to involve a large number of interested people. Meme coins are by their very nature social media based and driven by community engagement and promotion. This has been a rather fruitful area that Pepe has been able to exploit well, with its coverage spanning across Twitter, Reddit, and TikTok. This has increased the exposure of this company on social media thus making demands to rise, increase the price which attracts more investors.
One other factor which has played a role in the recent growth of Pepe is the general popularity of meme coins within the crypto space. As assets backing retail investors’ interest in the space for the next big thing, Pepe has been able to find its place among them. The token is accessible with a low price per piece which makes it attractive to new investors who want to get millions or even billions of tokens. This psychological factor together with the fact that the token is viral has led to a situation where price appreciation can happen very fast based on people’s moods and emotions.
It is crucial therefore to appreciate the fact that with such gains as has been seen with Pepe Coin comes the risk involved with meme coins. While other cryptos such as BTC or ETH have well-defined purposes and are anchored on rock-solid technologies, meme coins have little or no utility. Their pricing is mostly based on market sentiment and this is a rather unstable and unpredictable factor which can rapidly change directions. Meme investors in the likes of Pepe coins should also understand that such assets have high risk and are highly volatile.
Furthermore, meme coins are vulnerable to pump and dump schemes where large investors or a cartel of investors make the price of the meme coins rise and then cash out, leaving the retail investor in a state of loss. Although there is no explicit proof that this is the case with Pepe, such a phenomena has been noticed with other meme coins in the past. This shows that investment in meme coins should be done with caution and that one should anticipate frequent volatility of the meme coins.
Nevertheless, it is possible to notice some reasons for being optimistic about Pepe’s further development. This, combined with the token’s potential to go viral, can only mean that the interest in it will not fade away any time soon in the crypto market. Also, the price of Pepe has been able to keep on rising even in the face of volatility of the market. If the meme coin trend remains a trend and Pepe continues to keep its community engaged, there could be further price appreciation in the near to midterm.
However, the problem of long-term viability is still relevant to Pepe and other meme-centric cryptocurrencies. In order to sustain its position, Pepe which began as a meme may have to find use cases or collaborations that will be valuable to its holders. Lacking this evolution, the token might fail to hold the current position in the market when the hype around it dies down.
Therefore, as of now, Pepe Coin is priced at $0. with the symbol 057515 and market capitalization of more than $3. This puts it in the top ten of the cryptocurrencies by market capitalisation with an estimated value of $16 billion. Despite being popularised by the meme culture and community events, Pepe has shown good liquidity and demand, which makes it a coin to watch. However, one has to beware of the fact that these meme coins are highly volatile and can result in a total loss of investment. Thus, if Pepe can keep on capitalising on the viral phenomenon and bring worthy changes, it might be able to survive in the growing crypto environment.
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