On March 16, a coin was launched named “Pepecoin”. It has given 7000% return in just 2 weeks of its launch. Due to this, the attention of more people is now going towards it. Its market value is $740 million.
A new token has been launched in the crypto market the name is “Pepecoin”. It has given a lot of returns within 2 weeks of its launch, which has resulted in a lot of popularity in the crypto market. This token set its all-time high on 5th May. Since then its market capitalization has reached $1.8 billion.
Meme-based token - “Pepecoin”
Pepecoin is one such token that is influenced by memes. This is a token inspired by Frog's meme. These are such tokens that get popularity through memes. This is the reason why such tokens become popular among people more than the weight of memes. Because of this many people invest in them. Mostly the time one thing is seen many big investors already make a position in this token and after that, they are making memes on these tokens so that many people invest in these tokens. And then they made huge profits on these tokens.
What do the experts say on “Pepecoin”
A researcher of Coindex has said that meme coins grow in the bad environment of the market. And there is a boom in them when the market is a bit unstable or is in the stage of correction.
Launching for the purpose of entertainment
According to the website of Pepecoin, this coin was launched only for entertainment purposes. But Pepecoin is the most popular and fastest-growing cryptocurrency hosted on Ethereum. Ethereum is the second-largest blockchain in the Cryptocurrency market.
Conclusion: You should avoid investing in such coins which are popular with memes. And always have to keep your risk in mind. And you need to consult your financial advisor because this coin is very risky.
Post a Comment