Is the most memeable memecoin “PepeCoin” worth investment?

PepeCoin, the new meme coin, has grabbed everyone’s attention from investors to crypto enthusiasts despite its recent launch. Currently enjoying name and fame, the coin is inspired by the renowned meme Pepe the Frog, created by Matt Furie. However, the coin shares no relation with Furie. 

Right from the time of its launch, luck has been very kind to PepeCoin. For instance, an investor swapped 0.125 ETH worth $251 for 5.9 trillion PEPE tokens. The $251 investment turned into an investment worth $1.14 million with the profit being 4500 times. 

The SmartMoney is the luckiest guy I’ve seen recently.

He spent 0.125 $ETH ($251) to buy 5.9T $PEPE ($1.14M currently) 4 days ago.

If he sells at the current price of $0.0000001933, he will get a profit of ~$1.14M, more than 4,500x.https://t.co/cUqMO6zIVO pic.twitter.com/Ex5voyRvsa

— Lookonchain (@lookonchain) April 19, 2023

Moreover, the Twitter handle of the coin shared hitting a massive milestone of 50,000 owners within just two weeks of its launch. 

celebrating 50,000 holders in our first 15 days since launch today?

this is just the beginning for $pepe

thank you to each and everyone of you joining us on this revolution pic.twitter.com/Hdts6DaSg5

— Pepe (@pepecoineth) April 29, 2023

Already impressed with a brief introduction and quickly want to dive in more details? Continue reading further. 

PepeCoin airdrop

The coin was introduced without a presale; thus, there were neither taxes nor fees associated with the launch. Its developers haven’t burnt liquidity pools or given up their contracts which makes the distribution of the coin one-of-a-kind in the league of new cryptocurrencies.

Token distribution

Fostering a healthy ecosystem and pushing the adoption of PEPE further define the token’s  distribution strategy. PepeCoin’s total token supply is 420,690,000,000,000. While 93.1% was sent to the liquidity pool, the remaining 6.9% is kept in a multiSig team wallet and reserved for future centralized exchange listings, liquidity pools and bridges.

The price analysis

The number of unique addresses with $PEPE has increased from 7,000 when the project was released to around 40,000 holders a week later. What this means is that investors are rushing towards the project, which increases the possibility of surge in the demand. If that happens, the coin’s price will jump in the coming time.  

Interestingly, an Ethereum account purchased 1.8 trillion PEPE for $20 and gained a little profit when the price increased. Whether the buyer sold it or not isn’t known but he would have made over $30,000 if it was not sold. 

Will PepeCoins hit 1 USD?

Well, the chances seem negligible. Looking at the tokenomics, the total supply is  420,690,000,000,000. Reaching 1 USD means the market capitalization would be  420,690,000,000,000 USD, which doesn’t look like a possibility.  

Will PepeCoins token hit 1 cent?

The reason mentioned above is the same reason that makes it almost impossible for PEPE to reach 1 cent. Talking in detail, at 1 cent, the market cap would be 4,206,900,000,000USD. In comparison to the current market cap of the overall crypto, this is way higher.  

Where to buy PepeCoins?

PepeCoin was initially introduced on Uniswap. Since it was released on Ethereum blockchain, one had to pay a hefty gas fee. After some time, it was listed on the centralized crypto exchange MEXC as well as some reputed crypto exchanges such as Gate.io and Huobi.

To avoid the high gas fee, PepeCoins should be bought using a centralized exchange. 

PEPE’s impact on the meme economy

PepeCoin has influenced the prospering meme economy to a great level by showing that popular memes have the power to convert into digital assets that have real-world value and successful communities. In other words, PepeCoins have highlighted the rise in the influence of memes on online as well as in the financial world.

By symbolizing a reputed meme, PEPE serves as an evidence to the cultural importance of memes in today’s evolving society. 

In the news

According to PepeCoin’s latest tweet, some fraudsters have attacked the PEPE ecosystem to steal the legacy of OG Pepe. Standing against them, community members have been urged to extend their help and preserve the integrity of Pepe kingdom. 

Dear Citizens of the Great Pepe Kingdom, It has come to our attention that a treacherous group of impostors has infiltrated our beloved land. These fake Pepes have committed the unforgivable crime of stealing the legacy of our esteemed OG Pepe. We, the true defenders of the Great…

— PepeCoin Cryptocurrency (@pepecoins) May 1, 2023

The meme coin has hit an all-time high of $0.000000816. This jump in its price shows an increase by 38,900% ever since its launch.  

According to CoinGecko’s data, on April 30, the token ranked as the 17th most traded crypto in terms of 24-hour trading volume. 

According to CoinGecko, in the last 24 hours, PEPE has pumped 111% and is up 304% over the week.  Moreover, $PEPE is now among the top 100 on CoinGecko.

JUST IN: $PEPE entered top 100 on https://t.co/k4aUfne70j after hitting new all time high $0.00000107 pic.twitter.com/pyIXgrq1sn

— CoinGecko (@coingecko) May 1, 2023

Is it safe to call PEPE a good investment?

There’s no doubt that PepeCoin has fetched both popularity and growth; however, its low liquidity has made certain analysts doubtful about its long-term viability. Even if demand and price witness an increase in the short term, it won’t be easy for investors to transform their profits into traditional currency or any other asset.

This has led to such investors favoring other meme coins like Pikamoon, which is believed to emerge as PepeCoin’s strong competitor. 

Pikamoon is passionate about enhancing liquidity and raising accessibility for investors, two prime reasons responsible for its increasing recognition in the crypto world when it comes to an even dependable and powerful investment option.

If things are viewed from the technical perspective, PEPE token isn’t likely to have a great time ahead. 

Now coming to the investment part, i.e. whether the coin is good or bad is based on the fact if one wants to invest for long-term or short-term. PepeCoins could prove profitable in the long-run; hence, short-term investors need to think carefully. 

Final words

Meme coins have always been a high-risk and high-reward form of investment. Even though they are extremely volatile, hype and social media make them popular. There’s no denying that certain investors have enjoyed serious profits, there are others who have suffered major losses too.

All in all, meme coins lack intrinsic value and unfortunately, serve no purpose other than meme culture. 

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