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- 1 Memecoin is a popular cryptocurrency that is represented with animated or comic memes.
- 2 They raise enthusiasm online as they are inspired by memes and jokes on the internet.
Memecoins are entertaining coins created for social purposes including jokes, criticism, and fun. They are different from digital assets as they are not used in the form of exchange.
Due to their distinctive qualities such as burn rates and liquidity pools, these coins have become increasingly popular. Basic cryptocurrencies like Bitcoin and Ethereum serve as decentralized forms of digital currency while Memecoins take a unique approach by using viral internet content to gain popularity and generate value.
These usually show high volatility. Their price can fluctuate wildly, making them a very risky investment. They also show a lack of liquidity. It is sometimes difficult to purchase and sell meme coins as they are not traded on all exchanges. The first Memecoin is Doge which was created in 2013. Some other Memecoins making waves include Shiba Inu, Pepe Coin, BoneShiba Swap, etc.
PepeCoin and its Recent Market Analysis
PepeCoin was launched on Ethereum. It was created by Matt Furie and gained popularity in the early 2000s. It is a frog meme. This Memecoin appeals to the cryptocurrency community by instituting a no-tax policy and being honest about its lack of utility.
From late April to May 2023, the huge surge of PEPE caused its market cap to reach a height of $1.6 Billion. It has a strong community of like-minded followers.
As per CoinMarketCap the market cap of PEPE is $363.29 Million. The circulating supply is 391.79T PEPE. Its total supply is 420.69T PEPE. According to Coingecko the price of Pepe is $0.00000101 today with a 24-hour trading volume of $251,610,903.46. This shows a 5.69% price increase in the last 24 hours and a 57.40% price rise in the past 7 days.
The roadmap features three phases. The first phase includes listings on CoinMarketCap and getting $PEPE trending on Twitter. Phase two includes listings on centralized exchanges and phase three includes “tier 1” exchange listings and the team terms for meme takeover.
PEPE is an ERC token on the Ethereum blockchain and is secured by Proof-of-stake consensus mechanisms. It can be traded on Uniswap (V2), Uniswap (V3), Huobi, MEXC, and more.
The Latest News About PEPE
According to newsbtc(dot)com, after a prolonged decline from July 14 to October 3, the memecoin’s downfall stopped and entered the accumulation phase. It set off in an uptrend starting October 29, outperforming Ethereum-based altcoin Shiba Inu (SHIB) and Elon Musk’s Dogecoin (DOGE) by a notable margin. It is 96th in the current ranking at press time.
Summary
PEPE emerged as the best pick for the Memecoins in 2024. It surged rapidly recently. As per Coingecko data, the token has shown a meteoric surge in the value soaring its market cap. This Memecoin has created a lot of hype and a growing community of supporters on social media platforms.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
