On Sunday, the ERC-20 token PEPE achieved the status of the 17th most traded cryptocurrency by 24-hour trading volume, as per data from CoinGecko. The token's swift rise has propelled it into the top 125 cryptocurrencies by market capitalization.
PEPE coin is up 38,900%
4/30/2023
While meme coins like Dogecoin and Shiba Inu have generally mirrored Bitcoin's movements, PEPE made a splash in mid-April, amassing a market cap exceeding $326 million in under a fortnight.
Inspired by Pepe the Frog memes, PEPE tokens have followed a familiar trajectory driven by social media hype. However, it remains uncertain whether PEPE will fade away like many previous projects or continue to captivate the internet.
The meme coin market experienced another surge of enthusiasm when Binance released a PEPE buyers guide several days later. Although the guide only recommends using a decentralized exchange for purchasing PEPE, it sparked speculation that Binance might list PEPE on its platform.
Investing in meme coins carries significant risk. Their value is largely dependent on online buzz, and they are highly susceptible to price manipulation. Additionally, even if investors accumulate PEPE tokens at their peak value, they may struggle to cash out due to limited liquidity.
Originally created by American cartoonist Matt Furie in 2005, Pepe the Frog has taken on various roles, including a 4chan inside joke, an alt-right symbol, and a sign of defiance used by Hong Kong protesters. The future trajectory of this meme remains unpredictable.
Stay Updated
Subscribe to our newsletter for the latest financial insights and news.
+With Unusual Whales
Get the best broker for options trading and earn Unusual Whales discounted! in cash with an eligible account deposit at tastytrade. Get an Unusual Whales bonus when you deposit $2000. Offer expires 3/31/25. Certain restrictions, terms and conditions apply.
Unusual Whales does not confirm the information's truthfulness or accuracy of the associated references, data, and cannot verify any of the information. Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Options, investing, trading is risky, and losses are more expected than profits. Please do own research before investing. Please only subscribe after reading our full terms and understanding options and the market, and the inherent risks of trading. It is highly recommended not to trade on this, or any, information from Unusual Whales. Markets are risky, and you will likely lose some or all of your capital. Please check our terms for full details.
Any content on this site or related pages are not intended to provide legal, tax, investment or insurance advice. Unusual Whales Inc. is not registered as a securities broker-dealer or an investment adviser with the U.S. Securities and Exchange Commission, the Financial Industry Regulatory Authority (“FINRA”) or any state securities regulatory authority. Nothing on Unusual Whales should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any security by Unusual Whales or any third party. Certain investment planning tools available on Unusual Whales may provide general investment education based on your input. You are solely responsible for determining whether any investment, investment strategy, security or related transaction is appropriate for you based on your personal investment objectives, financial circumstances and risk tolerance. You should consult your legal or tax professional regarding your specific situation. See terms for more information.