PEPE THE MEME COIN! 🤪 — Sherma Jacqueline

Let’s break this down. A meme is an image that is usually humorous, that is copied and shared around on different platforms, often with slight variations. A MEME COIN is a cryptocurrency term for crpto coins that have been depicted as animated/humorous memes. T

When I first learned about them I was amazed by the intense passion of the meme followers/online traders, and it’s the same way right now with the meme coin known as PEPE. These coins could be a whole lot of fun, but of course, like with any cryptocurrency they are also high risk investments with a possibility of little to no value. Understanding the risks involved will help to avoid unexpected losses in this often volatile market.

CoinGecko says this about the memecoin PEPE, “Pepe, a coin inspired by an anthropomorphized frog popular in internet memes, leapt nearly 7,000% in the 17 days after its April 16 launch, hitting a market value of $1.8 billion by May 5.” This coin hit the list of the top 100 coins (by means of total market cap) within the first month of its launch!

As of today, PEPE is traded on major exchanges such as Huobi, MEXC, OKX, and is also available on Uniswap. It is the fastest-growing cryptocurrency hosted on Ethereum, the second-largest blockchain. The rise of this coin could have been amplified by its listing on major centralized exchanges, like Binance, and its sudden popularity has stirred up interest once again in memecoins as a whole.

It has been reported that trading volumes of memecoins jumped to $2.6B in the first week of May!🤑 It seems that memecoins flare up whenever the market is moving sideways. Todd Groth of CoinDesk says, "It's almost like, if the market is not moving up fast enough, traders find these smaller tokens to trade with."🤷🏾‍♀️

PEPE trades for fractions of a cent and with a market cap of almost $740 million, PEPE is now the third-largest memecoin after Dogecoin and Shiba Inu. These 2 coins (Doge and Shiba) were created as jokes on the internet that referenced the Japanese dog breed Shiba Inu but now these “jokes” hold more than $10 billion and $5 billion of the market respectively.😳👀 This is something I will be keeping my eyes on.

I do not believe that all the coins in circulation right now will always be around, most of them will just fade away as time goes by. But there are those that will be able to stand the test of time and the volatility of market dips and surges. As of May 16, 2023 the top 5 memes in circulation are DOGECOIN, SHIBA INU, PEPE, MILADY MEMECOIN, and ARBDOGE AI.

Of course, there’s a high possibility that investors could get burnt with memecoins, but as Kingdom people, we know to pray before we make a move whether that move is in the crypto markets of the world, or in our own personal lives! Get as much crypto education as you can, as well as information about stocks and commodities. The more you know, the better money moves you can make!

I’ll see you back in this space next week, and until then, enjoy your weekend!

Copyright ©2023 Sherma Jacqueline Felix, BLACK ADVANTAGE Publishing™. The author shall neither be liable nor responsible for any loss or damage allegedly arising from any information or suggestions in this post. The opinion expressed here is not investment advice – it is provided for informational purposes only.