The recently launched cryptocurrency PEPE has attracted the attention of the cryptocurrency world, and for good reason—it is already experiencing enormous success, both in terms of its price and market capitalization—as the cryptocurrency industry continues to expand and new digital assets emerge on a daily basis.
Indeed, the April 15-launched PEPE cryptocurrency, which has already crossed a $150 million market valuation and is still growing, has benefited greatly from the enormous popularity of the Pepe the Frog meme, as noted by the financial tracking website Unusual Whales on April 19.
Investors continue to swarm to the digital asset in hopes that it will replicate the success of other meme cryptos like Dogecoin (DOGE) and Shiba Inu (SHIB), thanks to its rapid growth, which allowed one PEPE investors to become a millionaire by turning a $251 investment into millions in just a few days.
The blockchain analytics company Lookonchain reported on April 19 that the investor, known as SmartMoney, spent 0.125 Ethereum (ETH) to purchase 5.9 trillion PEPE on April 15, making them a millionaire. This investment is currently far over $2 million given the token’s valuation at the time of publication.
The posts shared by Twitter users lyx.eth and borovik.eth on April 19 and 20 revealed that at the same time, another user made close to $1 million (exactly $870,678 at press time) after investing just $27 to purchase more than 2.5 trillion PEPE on April 19.
Built on the Ethereum blockchain, PEPE is a potent fusion of decentralized technology and meme culture that owes its rise to the meme’s extensive use on social media. The character Pepe the Frog first appeared in Matt Furie’s comic series “Boy’s Club” in 2005, and since then, people have spread it widely on websites including MySpace, Gaia Online, 4chan, and Reddit.
Price Analysis Of Pepe
According to the most recent information obtained from the cryptocurrency monitoring and analysis platform CoinMarketCap on April 20, the price of PEPE, which is up 31.45% in the last 24 hours, may appear unimpressive at $0.0000003456 at the time of publication, but zoomed out on a larger scale shows a significant upward movement for the recently launched digital asset.
The number of factors will determine whether PEPE is able to maintain its bullish momentum and keep rising “to the Moon,” including the developments and sentiment related to it as well as how things are going on the larger crypto market and the overall macroeconomic landscape.
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