Crypto alt coin season is upon us and PEPE has taken the FOMO to levels that resemble AMC and DOGE in early 2021 as well as SHIB in 2022.
A couple statistics about PEPE’s historical month (as of 5/5)
- Volume has shown a recent surge in trading volume, nearly doubling that of rival coin Shiba Inu (SHIB).
- market cap nearing the $1B milestone.
- coin has soared by 78% in the last 24 hours, with its trading volume surpassing $859M.
- 2000% growth in past 7 days
- Based on information from CoinMarketCap, since its launch, PEPE has given its initial investors a remarkable 2790% return on investment.
- Has broke top 50 crypto market caps
I am going to go over some of the details about PEPE that I believe set up the absolutely parabolic squeeze that we had over the past few weeks on this MEME coin.
First of all,
Ok, so what does the above mean to people who are not familiar with Crypto?
First bullish catalyst that PEPE had was the name. Let's be real, in the world of crypto most pride themselves with self-titled nicknames like “degenerate” and “chad” and more. The community of crypto traders are smaller than your stock exchange crowd and tend to be a little bit younger, computer savvy, and part of strong networks based on meme’s, degen late night trading, and heavy risk exposure does not bother a large chunk of crypto traders. That being said, “PEPE” is a crypto figurehead that is perhaps more popular than the DOGE dog at this point. Everyone knows PEPE and his faces and actions. Below is a clip from the actual PEPE website. This screams “crypto degen” and “cool.” As ridiculous as this may sound, it makes people more naturally inclined to buy PEPE simply based on familiarity.
This flows into what happens at that point. Social Media happens. On WalStreetBets, All crypto twitter accounts, as well as into mainstream social media PEPE has become trending day over day, week over week. Then another and another, then we get the social media behind it, and boom, we have 4 million Tweets in ONE day about a coin that is only a few weeks old.
PEPE showing its “crypto degen” roots
Lets talk technicals...
Those words that feel overwhelming and like a foreign language and stop you from investing in crypto overall. Some of the technicals about PEPE are as follows:
Taken from PEPE’s website are the following “93.1% of the tokens were sent to the liquidity pool, LP tokens were burnt, and the contract is renounced. The remaining 6.9% of the supply is being held in a multi-sig wallet only to be used as tokens for future centralized exchange listings, bridges, and liquidity pools.”
In other words, no major sells without multiple levels of protection established within the creators wallets. 93% of holdings are out there freely traded, which protects the “rug pull” now that we are at a larger top 50 market cap.
“No liquidity, no ability to buy and sell, getting orders filled”
A liquidity pool is a pool of funds (typically cryptocurrency tokens) that is locked in a smart contract on a decentralized exchange (DEX). The purpose of the liquidity pool is to provide liquidity for trading pairs on the DEX, allowing traders to buy and sell tokens without needing to rely on an order book or an external market maker.
Final thoughts on PEPE:
Investing in any coin that has this much buzz behind it is incredibly risky and not suggested, PEPE needs to establish some true support and resistance zones and establish longevity. This article is strictly for entertainment purposes
Thanks everyone!
-Amma Jamma
