Pepe Coin is up more than 270% in the last 24 hours to be priced at $0.000000265475, representing a whopping 1,000,000% growth since its launch on Sunday.
PEPE’s launch comes amid the emergence of a new market trend for meme tokens modeled after Pepe the Frog, a cartoonish, humanoid frog that is popular in some online circles.
With PEPE’s price rising so quickly since its launch over the weekend, it’s clear that many traders are buying into the token, even though it has no real fundamentals beyond its apparent virality.
Therefore, it may end up falling sharply over the past few days, with other meme tokens doing a better job of providing real utility and value.
Pepe Coin Price Prediction as PEPE Rockets Up 1,000,000% in 5 Days – Best New Meme Coin?
As far as PEPE’s charts are concerned, the coin may have peaked for now, with its Relative Strength Index (purple) starting to fall below 70 over the past hour, indicating overbuying. Is.
However, it is also clear that the support level (green) for Mim Token has been steadily increasing since launch, meaning that it continues to consolidate around the higher band.
This is positive for PEPE, as even if there is a drop in the coming hours or days (which is probably inevitable), it may be able to resume its impressive climb.
What is impressive about PEPE is that it is responsible for over $86 million in trading volume on Uniswap, where it is mostly being traded with Wrapped Ethereum (WETH).
This suggests considerable interest in the token, which has a total maximum supply of 420 trillion, an ‘exciting’ sign for 4/20 cannabis culture.
Nothing else is known about the coin, which has no connection to Matt Ferry, the original creator of the Pepe the Frog meme.
It is also not known who actually created the PEPE token, which could potentially indicate that it may have been part of a classic ragpull.
Nonetheless, the potential risks inherent in PEPE haven’t stopped it from storming the charts over the past few days, with CoinGecko data suggesting that it is the biggest growing cryptocurrency in the entire market today.
This fact alone is probably enough to keep PEPE performing in the coming days, despite the fact that it has little else to show for it but rising prices.
That said, it seems to have already attracted a small community of boosters and cheerleaders online, with several Twitter accounts springing up for it.
Thus, the community alone can help maintain its rise, at least for a while, until the next thing.
These other meme coins have better originals
PEPE is not the only new meme token in the market at the moment, and it is highly arguable that some of the more notable new meme cryptocurrencies have very strong fundamentals, such that they may continue to enjoy steady growth after their initial boom.
Most notable among these is Love Hate Innu (LHINIU), a meme-style polling platform running on Ethereum.
It is scheduled to launch by summer, with its platform giving users the opportunity to stake LHINU and earn crypto rewards for participating in elections.
Its pre-sale started less than a month ago, and has already raised an impressive $4.6 million.
This indicates how successful the platform and the coin can be once the sale ends with Love Hate Inu. Counting 33,000 Twitter Followers,
Another high-potential meme token is Tamadoge (TAMA), which listed last year after a hugely successful pre-sale.
In fact, Saw gains of up to 1,800% Compared to its first pre-sale price when it was listed on OKEx in October, the coin gained 30% in the last 24 hours alone.
This growth today is largely due to news that the token is about to be listed On a “Tier 1” exchange, meaning one of the largest platforms in the market.
On top of that, Tamadog is more than a meme token, with a play-to-earn Metaverse platform offering a selection of Doge-themed arcade games.
This provides TAMA plenty of utility, something that will help it grow in the long term as well as in the short term.