A Monumental Gain: Turned Into $46M

[TL; DR]

A crpto investor generated 15,000% after investing $3,000 in PEPE memecoin.

The GameStop stock resurgence contributed to the recent PEPE rall.

Several memecoin projects intend to integrate DeFi features to increase the utilit of the tokens.

Introduction

2024 has been a ver special ear for memecoins as the have performed highl since its beginning. CoinGecko points out that on average the top tokens have so far gained b around 1,312.6%. The interesting thing is that several memecoins that were launched in March such as Cat in a Dogs World (MEW), Book of Meme (BOME) and Brett have made it into the top ten meme coin list. BRETT and Dogwifhat were the greatest memecoin performers during the period.

Generall, though, the memecoins, including DOGE, FLOKI, BONK, SHIB, PEPE and BOME represent a new culture. In this article, we discuss the outstanding performance of PEPE in recent weeks.

The Mechanics of a Mega-Profit: How PEPE Became a Goldmine

In an incident that sounds like a fair tale, two memecoin traders gained much after investing in PEPE memecoin. One of the two savv crptocurrenc traders who invested $3,000 in PEPE memecoin had a return of over 15,000% within one month. B investing in the memecoin he/she turned $3,000 into more than $46,000.

As a fact, on 15 April the unknown person purchased 4.9 trillion PEPE for a total value of $3,000. Currentl, such a quantit of the tokens is valued at over $50,000. Later, the trader sold 1.41 trillion PEPE for $7.4 and remains with 3.5 trillion tokens which is around $38, 9 million. Lookonchain, a crpto intelligence firm summaried the transactions in its X post as the following image indicates. Source: x.com

As ou observe in the above picture, Lookonchain illustrates the permutations of what occurred. The same on-chain analtical firms included a graph that indicates the PEPE price movement during the cited period. Source: x.com

As ou note, there was a PEPE coin price dip and bounce during mid-April. This is the price change which some traders capitalied on. Recentl, another memecoin trader sold 140 billion PEPE tokens, about 10% of his/her holdings, for $1.57 million. After that sale the trader remained with 1.26 trillion PEPE valued at around $14 million. According to Lookonchain, that traded gained b 943%. Source: x.com

The two cases show that investing in leading memecoins like PEPE, BONK and Dogwifhat, among others ma turn highl profitable. However, there is an equal chance that one ma lose much funds if their prices fall in an unpredictable manner.

PEPE's Current Market Position - Rising Through the Ranks

At the time of writing PEPE memecoin, with a trading volume of $2.38B and a market cap of $5.97B, is changing hands at $ 0.00001387. It has gained b 2.65% within the last 24 hours. Although it is ranked 20 within the entire crpto market it is number 3 within the meme coin categor.

The rest of the statistics shows that PEPE crpto is up trending. For instance, its price rose b 63.5% within the last two weeks and b 86.5% within the past 30 das. As per CoinGecko online data the value of PEPE increased b 932%; a reall impressive performance. The following graph shows the Ethereum-based tokens performance for the past one ear.

PEPE Price Movement for the Past 1 Year CoinGecko

What is interesting to note is that PEPE gained much between March and Ma. The existing technical analsis shows a bullish momentum. For instance, the last candlestick in The Graph is a long-tailed bar which indicates a bullish momentum. Nonetheless, the shorter time frame chart shows that the token is within a pullback. The following is a 7-da chart. PEPEs 7-Da Price Chart CoinGecko

The tip of the chart shows a fall-back with the last candlestick being a tail-bar.

Memecoins: Reflecting a Generation's Disillusionment and Rebellion

Some crpto analsts have indicated that PEPE represents a unique culture which we can relate to the narrative of the GME saga. The analsts have likened the PEPE culture to that of Punk Music Genre which indicates a Generation's disillusionment and rebellion. For instance, punk music became a hit after it had been criticised earlier on.

In general terms, the memecoins have become ver popular as a result of some oung investors who have seen the investment opportunities that were afforded to their parents unutilied. Therefore, the have started minting their own tokens and pumping them to make mone. Hao Yang, the head of financial products at Bbit exchange, is one of the analsts who believe this thesis.

As per Cointelegraphs recent publication, Young said, The success of memecoins can be seen, like punk rock, as a smptom of disillusioned oung investors who have seen the opportunities afforded to their parents disappear."

He added, B printing tokens out of thin air and pumping them to billion-dollar valuations, these creators are showing the absurdit of our current fiat sstem.

The GameStop Connection

Some analsts have attributed the recent PEPE price surge to the GameStop stock resurgence. The value of GameStops stock (GME) began rising on 13 Ma after the return of Keith Gill to social media. As per context, Gill is the individual who led to the 2021 GameStop short squeee.

Basicall, the prices of GameStops stock and PEPE started rising around the same period. The value of GameStop shares increased b 111% after the return of Gill. On the other hand, on 13 Ma PEPE rallied to attain a new all-time high of $0.000010.

Xiaohan Zhu, the CEO of Meter, is one person who believes that the recent PEPE rall is connected to GameStops stock price spike. In an interview with Cointelegraph Zhu said, The GME saga ma be one of the factors contributing to PEPE's momentum. I attribute the recent board drop in crpto primaril to profit-taking and numerous large-scale projects getting listed on exchanges and thus absorbing much of the market's liquidit.

The Power of Communit: Social Media's Role in PEPE's Rise

The unique thing about memecoins like PEPE is that the are supported b large communities. Most members of the communities work hard to ensure that a memecoin takes off the ground and rises to greater heights. Most members who are, usuall, some investors work hard to brand and market their memecoin. This is a reason wh their prices rise sharpl after their launch. However, the PEPE coin communit has been unique in that it supported the coin from its launch to date.

Future of PEPE and Memecoins

Based on its price trajector the PEPE memecoin looks robust and bullish which will likel make it grow further. The team is promising to make several advancements and enhancements to make the token standout among its competitors. For example, its current roadmaps has several ambitious initiatives to bolster its securit and scalabilit. The are also working towards improving the user experience and accessibilit.

The future of man memecoins looks impressive as well. Most of these projects have plans to integrate decentralied finance (DeFi) features such as decentralied exchanges (DEXs), liquidit provision and ield farming. These new functionalities will likel increase the tokens value proposition and utilit which ma attract more investors.

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Conclusion

The stor of two traders who gained b 15,000% and 943% after investing in PEPE memecoin indicates the potential such tokens have. Although most of the memecoins do not have utilit, some of the projects are adding new features to their ecosstems to increase their value propositions. Basicall, communit engagement and support are essential for the growth of the memecoin ecosstems.

FAQs about PEPE Memecoin

How high will PEPE go?

The value of PEPE ma rise to around $0.00007117 b the end of 2025 and $0.00006059 b 2030. In the longer term, its value has the potential to rise above this. However, the performance of crptocurrencies depends on future crpto regulations, risks and global economic conditions. Liquit USD crpto Based on its recent trend, people can invest in PEPE as it has the potential to bring a high return on investment within a short period. However, PEPE, like most crptocurrencies, is highl volatile and ma lead to huge losses. Also, presentl, most memecoins have no utilit, although some are in the process of integrating DeFi features.

What was PEPE all time high?

PEPE reached an all-time high of $0.00001574 on 25 Ma 2024. On the other hand, it attained an all-time low of $0.00000005514 on 18 April 2023. If the memecoin fren continues the value of PEPE coin ma continue to rise in the future.

How much is the PEPE worth in dollars?

On the da of writing, PEPE is trading at $0.00001517 after gaining b 60.7% in the last 7 das and b 964.6% within the last one ear. It attained its all-time high of $0.00001574 on 25 Ma 2024.