In the world of cryptocurrencies, anything is possible. The sector has made many millionaires, but has also made many bankrupt in an instant. Cryptocurrencies with a very low market cap can go up by ridiculous percentages and make investors millionaires overnight. During the previous bull market, we saw that these coins do not even have to that much useful. Meme coins such as Dogecoin (DOGE) and Shiba Inu (SHIB) skyrocketed by thousands of percent. Occasionally, new meme coins continue to attract attention. A new token based on arguably the internet’s biggest meme managed to go up 21,000% in three days. The token is based on Pepe the Frog, which has become a cult internet meme in recent years. Pepe, a green frog with a humanoid body, originated from the 2005 comic book Boy’s Club. It has already become a popular element of internet culture. The PEPE token was launched on Sunday. By Tuesday morning, it managed to reach a market capitalization of $33 million. The token itself temporarily rose 21,000%. On the decentralized exchange (DEX), Uniswap’s volume was as high as $30 million. Data from Etherscan shows that the meme coin had a total of 10,000 individual holders on Tuesday. The token was therefore quickly bought by large groups of investors who were all counting on profit. The trading pool on Uniswap for PEPE tokens locks in more than $1.3 million in liquidity, all provided by vendors.
Full story : Why This Cryptocurrency Has Grown by 21,000%.
