This Altcoin Did 75x Within Hours! What’s going on?

Popular meme coin Dogecoin has been kicked off! Crypto Twitter is rocketing the ‘Pepe the Frog’ meme coin as it overcomes its Dogecoin obsession. Some early investors, with the latest meme obsession, made several hundred dollars into six figures thanks to this altcoin.

A new meme coin craze is starting, this altcoin is on fire!

Crypto Twitter traders seem to be carrying the tokens in Shiba Inu fashion to those branded after the internet meme Pepe the Frog. A Pepe (PEPE) token released on Sunday has gained over 21,000% in the past three days, hitting $30 million in trading volume on Uniswap and hitting a high of $33 million on Tuesday morning.

Pepe website states, “The most memeable memecoin in existence. The dogs have had their day, it’s time for Pepe to rule,” he says. Pepe hit 10,000 individual holders on Tuesday, according to data from blockchain tracker Etherscan. So the altcoin was quickly bought by the masses of investors who joined the ongoing frenzy and hoped to make a profit.

Pepe token price chart has only risen so far / DEXTools

The circulating supply of tokens is 420 trillion, which is a reference to another popular cannabis culture slang, “4/20”. Trading is pretty serious for a purely joke token: A trading pool for Pepe tokens on Uniswap is locking in over $1.3 million in liquidity, all provided by providers. Therefore, the tokens are not affiliated with the actual Pepe the Frog meme or the meme’s original creator, Matt Furie.

Furie’s Pepe, a green frog with a humanoid body, appeared in the 2005 Boy’s Club comic. In the years that followed, it went viral and became a popular part of internet culture. cryptocoin.comAs you follow, crypto Twitter has a knack for jumping into meme-coins, especially after the rise of tokens like Dogecoin (DOGE) and Shiba Inu (SHIB) whose market cap jumped to tens of billions in the previous bull market.

“The most memeable meme-coin” PEPE made a unique rally

Pepe (PEPE), the new meme cryptocurrency that uses the character “Pepe The Frog” as its mascot, has skyrocketed 7,500 times in a matter of hours. Crypto researchers from the Arkham team followed the story of the biggest potential whale. In this context, the Arkham team shared the following:

The past few days seem to have been meme-coin season. Account 0x8e5 bought 1,827T “PEPE” for $20 over the weekend and this position is currently worth over $150k. If he hadn’t sold them all after 8 hours, I’m sure he would have been very pleased.

Thus, this obscure altcoin, which is in only four Uniswap (UNI) pools, has seen a price increase of almost 7,500 times in a short time. Unfortunately, the “whale” spotted by Arkham sold it too soon. As of today, PEPE continues its breathtaking rise. The token has increased by 50% in the last 24 hours. Transaction volume exceeded $40 million.

More liquidity for next generation DOGE and SHIB

PEPE isn’t the only meme-themed cryptocurrency gaining traction in mid-April 2023. For example, the ArbDoge AI (AIDOGE) token, which does not want to be called a meme coin, has risen over 100% in the last 24 hours.

Unlike PEPE, it has made a number of major listings on top exchanges: Huobi has opened deposits and trading will begin for this crypto. The token draws on three powerful narratives of 2023 as it is built on Arbitrum (ARB), uses Doge stylistics, and is described as an “artificial intelligence-generated” product.

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