Do you find yourself in a difficult position? They say there is always a way. No, no, no – we disagree. In fact – there is always a meme. That’s right, memes are no longer just images, videos, or pieces of text that are fun in nature; they are now a method of communication and an element of a culture. They are thoroughly integrated into all spheres of life, including financial affairs. So let’s see what’s been happening with the meme-coin market lately.
In a short period of time, Pepe coin (not to be confused with Pepe Cash) has attracted the attention of many investors, becoming one of the most popular meme coins. When we say a short period, we mean this – its public launch happened in April 2023.
During its short existence, Pepe grew from almost zero to $0.0000044 on Friday last week, becoming the fastest-growing token in the history of the cryptocurrency market. However, on May 12, PEPE dropped by 60%.
FOMO has set in among investors; the notorious “What if...” Cryptocurrency investing is known to be a game of volatility, meaning prices fluctuate sharply over short periods. The temptation to profit from these fluctuations can be immense. In our humble opinion, good old-fashioned cryptocurrencies with real utility and track record are better alternatives. BTCUSD and ETHUSD have legitimate use cases, both are backed by a strong network of developers, and have stood the test of time.
One of the examples of a token first taking over media space and its slump is the story of Dogecoin, which started as a joke but saw its popularity skyrocket in early 2021. It started the new year trading for a penny, and its price rose more than 8,100% in five months. That didn’t last long, however, as the price of Dogecoin fell just as quickly as it rose, leading to severe losses among investors.
We hate to say it, but there is a consensus that Pepe may face the same fate. It may not, of course, but in any case – rule #1 that every investor should stick to is to do their own research before trading any asset.
