2023-04-21 18:09:00
© Archyde.com. Here’s How Someone Turned $27 Into $1 Million In Days With This Meme Exploding Coin
They are beyond the fashion of Shiba Inu tokens. There’s a new memes currency in town – PEPE. It was launched after the Pepe the Frog meme went viral on the Internet.
“The days of dogs are over,” the team behind PEPE declared. While describing PEPE as “the most memorable currency of memes in existence”.
The token was launched on April 17 and has been on the rise ever since. In less than a week. PEPE has climbed to the market capitalization of 137 million and has gained a huge amount during this period. After the massive price hike, he transformed this token, with a green frog and a human body. Early investors to millionaires. However, achieving these profits will not be so easy.
PEPE Millionaire Due to the meme culture, investors are flocking to digital assets hoping to replicate the success of others. Such as (DOGE) and (SHIB). Pepe, too, manages to offer investors incredible returns. An investor has turned his $27 investment in PEPE into $1 million. But it is not easy to cash out all of the money, especially because of liquidation concerns.
In addition to the lack of buyers, it is also important to consider the presence of sufficient liquidity. Which are usually concentrated in the groups of automated market makers.
Market analyst, Grzegorz Drozdz, explained that it would take 46,200 years for PEPE coins to clear the investor. Assuming no decrease in demand. An attempt to exit the position could have a significant negative impact on the price of the crypto-asset. This could mean that the price of PEPE could drop below the buy level.
However, the token liquidity is expected to improve with more listings by crypto trading platforms.
Central though it was launched recently. Many in the crypto community have pointed out centralization concerns. It was noted that six wallets contained more than $1 million in PEPE.
Such a level of centralization can cause problems because it gives these owners enormous power over the price of the token. Stories of investors turning a few dollars into millions have been speculated more as a lure to attract unsuspecting investors to the nascent ecosystem.
Crypto Horizon
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