Can Meme Coin PEPE Get Into The Top 100? Read This Before Buying
20 Abril 2023 - 5:45AM
NEWSBTC
Although the meme coin PEPE was launched only four days ago, on
April 16, it has been one of the hottest topics on the crypto
markets in recent days. And not without reason. Since the launch,
the PEPE price has skyrocketed by more than 20,000%. The creators
of PEPE call the token itself “the most memeable meme coin in
existence” and entitle Dogecoin, Shiba Inu and FLOKI as direct
competitors. One of the meme coin’s taglines is “the dog days are
over.” According to CoinMarketCap, PEPE’s fully diluted market cap
has grown to nearly $131,5 million as of today, ranking the meme
coin #2604 by market cap. For comparison, the meme coin FLOKI is
ranked #111 and has a fully diluted market cap of $664.8 million,
meaning that PEPE needs to 5x to reach the same size as the dog
coin. Related Reading: Shiba Inu: How The Meme Coin Weathered Whale
Dumping And Emerged Stronger At the time of writing, there were
28,647 holding addresses, whereas the number was already at 7,085
on the first day. Top 10 holders currently own 16.71%, top 20
holders 23.01%, top 50 holders 35.64% and top 100 holders 44.15% of
all tokens. The trading volume has also surged massively in the
last 24 hours and stands at $179.7 million. One story caused a
particular stir in recent days. As reported by on-chain data
provider Lookonchain, a smart money investor spent just 0.125 ETH,
about $251, to buy 5.9 trillion PEPE four days ago, worth $1.14
million now. The SmartMoney is the luckiest guy I've seen recently.
He spent 0.125 $ETH ($251) to buy 5.9T $PEPE ($1.14M currently) 4
days ago. If he sells at the current price of $0.0000001933, he
will get a profit of ~$1.14M, more than
4,500x.https://t.co/cUqMO6zIVO pic.twitter.com/Ex5voyRvsa —
Lookonchain (@lookonchain) April 19, 2023 Potential PEPE Buyers
Need To Know This However, potential PEPE investors should be
cautious. As 0xScope explained via Twitter, more than 20 addresses
spent an amount of about 0.02 ETH on Fixed Float and Changenow to
buy the new meme coin within five minutes of the token’s trading
launch. Now these PEPE are worth between $0.8 to $1.1 million.
Together they control 11.9% of the supply and are worth a total of
$14 million. It has not yet been conclusively determined whether
these are insiders. However, analysts warn that potential buyers
should watch these addresses to avoid risk. Related Reading: These
Top 5 Meme Coins Are Bleeding As March 2023 Ends – Here’s Why A
more in-depth “tokenomics” analysis has been published by Arcanum
Ventures. In terms of utility, the company notes that there are
zero taxes, 93% goes to liquidity, 7% is held by the team for
future CEX listings, LP tokens are burned. The token supply is
420,690,000,000, 100% is in circulation. The benefits for holders
are the classic meme coin perks: “meme, vibe & HODL, and
generational wealth,” according to Arcanum Ventures. “High-level
overview of the roadmap reminds us of South Park,” the company
adds. In terms of potential insiders, Arcanum also issues a
warning: In the first three hours, there were more than 170
purchase transactions from decentralized exchanges, each purchase
was about 0.50% of the total supply, all were unique wallet
addresses – 70% of which had no transaction history, Arcanum
analyzed. Looks like these UNDOXXED wallets scooped up 40% of the
tokens after listing. Even more alarming, half of them proceeded to
dump against retail buys. This looks like a hype #memecoin project.
With suspicious on-chain activity. And very few promises. Do you
think they’ll take PEPE meme mainstream? At press time, the PEPE
price stood at $0.00000033785. Featured image from Twitter, chart
from TradingView.com
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