Is Pepe Memecoin Poised to Dethrone Doge and Shiba? Shocking Market Cap and Growth Figures Revealed!

TL;DR

• Pepe Memecoin has seen massive profits, rising nearly 5,000,000% in a few weeks.
• However, the coin has since corrected and is down nearly 62% from its peak, highlighting its volatile nature.
• On-chain analytics suggest Pepe may face challenges due to lower retail participation and liquidity compared to Dogecoin and Shiba Inu.
• Limited retail participation means fewer active investors, making the market susceptible to manipulation and sudden price fluctuations.
• Retail engagement in Pepe and the overall crypto market has changed dramatically, potentially indicating a shift in market dynamics.
• Pepe has also been listed on more exchanges, including Gemini, Kraken, and Wazir.

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From Millionaires to Market Correction

PEPE holders have seen massive profits, with the altcoin rising nearly 5,000,000% in a few weeks. Within three weeks of its issuance, the coin’s price reached a peak of $0.00000431, giving it a market capitalization of $1.8 billion.

This milestone was reached in 19 days for PEPE, compared to 279 days for SHIB, 287 days for Ethereum, 1,579 days for Bitcoin, and 2,585 days for Dogecoin. According to a research and analytics firm, Messari, PEPE’s average value per holder, calculated based on market cap, is similar to SHIB but accelerated. This illustrates PEPE’s extraordinary growth rate.

Though the cryptocurrency market shows promising numbers, it is important to emphasize its volatile and unpredictable nature, especially when it comes to hype-driven memecoins.

The PEPE token has corrected since reaching its zenith and is down nearly 62% from its peak. It is clear from PEPE’s rapid drop in value that these coins are susceptible to rapid changes in value.

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Retail Investors Abandoning Pepe Memecoin?

A report from on-chain analytics firm Santiment highlights issues Pepe coin ($PEPE) may face amid a general grim crypto climate, even though it has made investors millionaires in only a few days.

According to the report, PEPE may face challenges related to lower retail participation and liquidity. PEPE has much lower liquidity and retail participation than Dogecoin ($DOGE) and Shiba Inu ($SHIB) did a year ago, according to the report.

In comparison, PEPE reached $2 billion in peak trading volumes, while $SHIB and $DOGE reached $40 billion and $70 billion,, respectively. As retail participation is limited, PEPE’s market might have fewer investors actively trading and supporting it. As a result, a few large players can manipulate prices and cause sudden price fluctuations that can affect the entire trading ecosystem.

In addition, Santiment said that the retail landscape had changed dramatically, with retail engagement almost nonexistent. If retail participation appears to be nearly nonexistent, it could indicate a shift in market dynamics.

The cryptocurrency landscape can change quickly, as well as investor preferences and behavior. There is a possibility that investors will shift their attention to more promising or appealing projects or platforms. So it is wise to take precautionary steps while investing in meme coins.

Meanwhile, Pepe has gone multichain with its new bridge powered by Layerzero Labs, allowing users to freely transfer their $PEPE across Ethereum, BNB, and Arbitrum. The bridge can be accessed via Pepe. VIP and by clicking the bridge in the menu.

Besides this update, $PEPE has also been listed on more exchanges, including Gemini, Kraken, and Wazir. $PEPE is currently trading at $0.00000158, up 3.76% in 24 hours, according to CoinMarketcap.

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What is PEPE coin:

Pepe is a new meme coin that competes with the existing Doge meme coins. The meme coin was launched in stealth, with no presale, no taxes, no LP burnt, and no contract renounced.

The meme coin’s mascot is Furie’s Pepe, a cartoonish frog with a green humanoid body that first appeared in the 2005 comic Boy’s Club. The meme went viral in the 2010s and has continued to resurface even years later.

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