In fact, Pepe already held a lot of positions in March, and then continued to increase its holdings in April.
However, this part of the holdings failed to avoid the mid-April crash, causing the price to almost halve. It was not until the price rose above 0.0125 that the floating profit exceeded the previous maximum floating loss for the first time.
There are three main reasons for this:
1. The characteristics of Meme coins: Meme coins are nominally fully circulated and anti-VC (venture capital). Due to the infighting of the founding team and the previous sell-off, Pepe actually no longer has the support of the project party.
2. Election heat: Meme coins related to the recent election have performed well, such as Trump and Biden. Although these two coins are difficult to land on major trading platforms (such as Binance), they still perform well. Similarly, People can also catch up with the hot spots related to the Constitution.
3. Meme coins on the Ethereum chain: The performance of Meme coins on the Ethereum chain also boosted the rise of Pepe.
It is worth mentioning that the origin of Trump and Pepe can be traced back to the 2016 election, marked as KP92877.
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