• Pepecoin ($PEPE) has registered gains of 394% in the past 5 days, with a market cap of $452 million and over 60,000 holders.
• Ethereum whales have taken notice, and the coin has been listed on centralized and decentralized exchanges.
• Pepe has outperformed other meme coins and is expected to continue its bullish trend, with potential for a 10X profit-taking strategy.
Pepecoin ($PEPE) Price Soars
Pepecoin ($PEPE) has surged 394% over the past five days, reaching an all-time high (ATH). The meme coin now boasts a total market capitalization of approximately $452 million and more than 60,000 holders.
Listing on Exchanges
The rally has been fueled by FOMO traders, catching the attention of Ethereum whales who have already begun accumulating PEPE tokens. On-chain analytics platform Spot On Chain identified one whale that made more than $1.8 million in less than two weeks by buying 5421B PEPE with just 1 ETH via Uniswap 16 days ago and swapping 21.64B PEPE to 3.5 ETH via Uniswap recently. Moreover, centralized and decentralized exchanges are listing PEPE token to provide liquidity to traders interested in investing in it.
Comparing To Other Meme Coins
Launched to compete with dog-themed meme coins such as FLOKI and Baby DogeCoin (BABYDOGE), Pepecoin has far outperformed its rivals – BABYDOGE boasts a valuation of only about $406 million compared to Pepe’s impressive $452 million valuation.
Analysts expect Pepe’s bullish momentum to continue based on Elliott Wave Theory’s third wave taking ground – often meme coins tend to rally 10x during their peak phase before they start correcting themselves again due to profit taking strategies employed by investors or whales dumping their holdings onto the market at once.
In conclusion, while no investment should be made without proper research into the fundamentals of any asset class including cryptocurrencies – especially speculative investments like meme coins – it is worth noting that Pepecoin’s price surge may create potential opportunities for both investors aiming for short term profits or those looking for long term investments depending on their risk appetite levels.