Pepecoin ($PEPE) Price Surge
• Pepecoin, a frog meme coin, has surged 394% in 5 days with a market cap of $452 million and over 60k holders.
• It is listed on centralized and decentralized exchanges and outperforms dog-themed meme coins.
• It is expected to continue its bullish trend with potential for a 10X profit-taking strategy.
What Gives Pepecoin Its Competitive Edge?
Pepe was launched to compete with dog-themed meme coins and has dethroned some of them, including FLOKI and Baby DogeCoin (BABYDOGE). Despite being a new entrant in the market, it already has a total market capitalization of approximately $452,054,247.55 as of Monday while BABYDOGE has a valuation of about $406,857,844. It has also received tremendous support from centralized and decentralized exchanges through its listing which have fueled the rally mostly by FOMO traders. On-chain analytics platform Spot On Chain identified an Ethereum whale that made more than $1.8 million in less than two weeks with more whales hodling strong waiting for a sell signal.
Price Momentum Building
The PEPE coin’s price is up approximately 84 percent in the past 24 hours, hitting an all-time high (ATH). From an Elliott wave standpoint, the bullish thesis has more upsides to cover in the coming days as bullish momentum continues to build up as the third wave takes ground. Most often, meme coins tend to rally 10X during bull runs which can make Pepe an attractive investing option for those looking for short term gains in volatile markets.
Risks Involved
Despite the potential rewards associated with investing in Pepecoin or other cryptocurrency assets like it there are certain risks that should be taken into consideration before committing any capital including liquidity risk, regulatory risk and volatility risk among others. Investors should do their own research before making any investment decisions regarding cryptocurrencies or other digital assets.
Conclusion
Pepecoin has been making waves in crypto markets recently registering gains of 394% over five days giving it a current market cap of approximately $452 million dollars with over 60 thousand holders currently owning it who are watching closely as Ethereum whales take notice driving further demand and pushing prices higher which could potentially result in huge short term profits if pegged correctly however investors should always remember to assess risks carefully before investing any funds into digital assets like this one since they can be highly volatile investments due to their nature.