The fourth Bitcoin halving took place on time at 8:09 am on April 20, when Bitcoin reached a block height of 840,000. The impact of this halving on the entire market remains to be seen, but the market seems optimistic about the development prospects of cryptocurrencies, so the highly anticipated meme coins have also attracted investors' attention. Not long ago, Memecoins broke out again, with BONK up about 60%, PEPE up about 50%, and POPCAT (the tokenized version of the OG Internet meme) up about 300% in the past 7 days. Is this the first major boost to the industry's next major rebound?
Will PEPE continue SHIB's success and become the thousand-fold myth of this round?
PEPE coin price and token economy
PEPE coin officially entered the cryptocurrency market on April 17, 2023, with an opening price of approximately $0.00000006036401729083. As news about this emerging cryptocurrency project spread on social media, trading volume gradually increased.
As of May 5, 2023, PEPE coin reached its current all-time high, with the price soaring to $0.000004213, an astonishing 6,879% increase from the initial listing price.
The total supply of PEPE coins is 420,690,000,000,000, and the current circulation is about 391,790,000,000,000 (about 93% of the total). The team sent tokens to the liquidity pool to support transactions and destroyed liquidity provider tokens (LP tokens), showing its commitment to transparency and fairness of the project.
It is worth mentioning that the developers of wuq6267PEPE have given up ownership of the smart contract, which means they no longer have any control over the cryptocurrency, including the ability to modify the code. This practice is becoming increasingly popular among cryptocurrency projects to prevent human manipulation and other fraudulent activities. However, traders still need to be cautious because there are still certain risks in participating in such projects.
The remaining tokens are held by the creators of the PEPE cryptocurrency project in a multi-signature crypto wallet for future development and listing plans. This strategy not only ensures the long-term development momentum of the project, but also provides investors with a certain degree of confidence.
The main factors for PEPE's current rise
Coinbase Listing Speculation: The expectation that Pepe Coin will be listed on Coinbase has generated a lot of interest. Initially scheduled for April 18, the listing was delayed due to technical issues, sparking speculation. The possibility of a joint futures and spot listing on the Coinbase international exchange indicates growing institutional interest and could boost investor confidence.
Resistance Break: Analysts including Davie Satoshi have predicted that Pepe Coin has the potential to surge significantly, especially if it breaks out of the $0.0000075 resistance level. A breakout of this barrier could spark a massive rally that could push Pepe to new all-time highs.
Can PEPE replicate SHIB’s thousand-fold myth in this round?
If PEPE is the leading meme coin in this bull market, then it is very likely to rise to a market value of more than 100 billion, which is a 100-fold increase.
Will PEPE be the leader of meme coins in this bull market? So far, PEPE is indeed the best choice. It is precisely because of this logic that many people are rushing to grab PEPE regardless of the cost.
But will there be a new leader to replace PEPE in the future? I think it is still possible. The outbreak of meme coins is highly random, so we need to pay attention to market trends at all times and not miss any meme coin that may become a leader.
