Pepe Coin Plummets by 40%
The world of cryptocurrencies can be unpredictable, as evidenced by Pepe Coin’s (PEPE) recent decline in value. With a price drop of nearly 40%, from its all-time high (ATH) of $0.00000431 to its current $0.00000257, investors and traders alike are left wondering what’s next for this meme coin. Amidst turmoil, a new contender named GIGACHAD has emerged, capturing the crypto community’s attention and raising questions about whether it could dethrone Pepe Coin.
Pepe Coin, an ERC-20 token with a supply of 420.69 trillion tokens, joined the ranks of other meme coins, which are tokens based on internet memes and popular culture references. The recent PEPE token has successfully captured the market’s attention, hitting a $1 billion market cap fueled by its recent Binance listing. This meteoric rise came despite warnings from skeptics about the potential for an impending collapse, as the number of whales who purchased PEPE shortly after its release in mid-April raised concerns.
The price of $PEPE stands at $0.00000257 today, with a 24-hour trading volume of $890,216,565, representing a -10.77% price decline in the last 24 hours. The negative funding rate in perpetual futures tied to $PEPE suggests that bearish positions dominate the derivatives market, with shorts willing to pay longs to keep their bets open.
The success of Pepe Coin can be attributed to several factors, including recent interest in meme coins, which has also benefited other tokens such as Shiba Inu and Dogecoin. Shiba Inu, for example, experienced a significant surge in price in 2021, reaching an ATH of $0.000035 and boasting a market cap of over $13 billion at its peak. Meanwhile, Dogecoin, the original Dog-based meme coin, has seen impressive growth, reaching an ATH of $0.73 in May 2021 and maintaining a market cap of around $30 billion.
As Pepe Coin’s (PEPE) price continues to decline, a new meme coin, GIGACHAD, has entered the fray. GIGACHAD’s $GIGA token has a total supply of 420,690,000,000,000 tokens, with 95% allocated to Uniswap liquidity to promote ease of trading and foster a healthy market for crypto assets. The remaining 5% of tokens are reserved for Centralized Exchange (CEX) listings. In a move demonstrating GIGACHAD’s commitment to decentralization and security for its investors, 100% of Uniswap liquidity tokens have been burned, and the contract has already been renounced.
Will $GIGACHAD be Next PEPE?
GIGACHAD launched on Uniswap without a prior presale, yet it quickly gained the attention of investors seeking the next big meme coin. Within just a few hours, the token’s price surged from its listing value of $0.000000000009 to $0.000000001801, a remarkable 6500% increase even before listing on major crypto price trackers like Coingecko and Coinmarketcap. This rising trading value and volume suggests that the meme coin community is taking notice of this new meme coin which dubs itself as alpha of all meme coins.
As Pepe Coin faces significant challenges and GIGACHAD makes its mark on the crypto scene, the future of meme coins remains uncertain. While some investors have made substantial gains through these tokens, such as one who turned a $300 investment in PEPE into $1 million in just a few days, the volatile nature of the crypto market, especially meme coins, means that risks are ever-present.
Ultimately, the fate of Pepe Coin and GIGACHAD will be determined by market forces and continued interest in meme coins. Both tokens have seen impressive growth in a short period, but as with any investment, past performance does not necessarily indicate future results.
The volatile nature of these meme coins means that significant gains can be made, but substantial losses are also possible. In this rapidly evolving market, it remains to be seen whether GIGACHAD will rise to prominence and outshine Pepe Coin or if another contender will emerge to capture the attention of the meme coin community.
The world of meme coins is ever-changing, with new contenders regularly entering the market and capturing investors’ interest. The recent decline in Pepe Coin’s value has left many questioning its future and the possibility of new meme coins like GIGACHAD replacing it. As the crypto landscape evolves, meme coin investors must remember that various factors, including market sentiment, technological developments, and overall interest in meme coins, will determine the fate of both Pepe Coin and GIGACHAD.