- The popularity of “meme coins” like Dogecoin and Shiba Inu has skyrocketed, with the latter gaining more attention due to its low price valuation.
- PEPE Coin, another “meme coin”, has made a significant impact since its launch in April 2023, gaining attention on crypto news sites and being listed on several exchanges, including Binance.
- Despite a 5 million percent increase in value, the likelihood of PEPE Coin reaching a dollar value is low due to the understanding among investors that such “meme coins” rarely reach that level.
PEPE Coin: The New Kid on the Meme Coin Block
The world of cryptocurrency has seen a surge in the popularity of “meme coins” such as Dogecoin and Shiba Inu. The latter, named after the breed of dog featured in Dogecoin, made a significant impact in the second half of 2021 due to its low price valuation. This trend led to the emergence of several other “meme coins” with similar low price valuations.
PEPE Coin’s Explosive Growth
One such “meme coin” that has caught the attention of the crypto world is PEPE Coin. Launched on April 17, 2023, PEPE Coin initially drew attention due to its supply of 100 quadrillion. Slowly but surely, it started making its presence felt on various crypto news sites. Despite not being listed on most exchanges in the first few days, it gained traction on several decentralized exchanges like Uniswap, leading to its listing on Huobi, Kucoin, and other exchanges. The anticipation of a Binance listing, which could potentially lead to a significant price surge, was high. Binance did not disappoint and listed the token due to the growing interest in PEPE Coin.
Can PEPE Coin Reach a Dollar?
Within 20 days of its launch, PEPE Coin experienced a staggering 5 million percent increase in value, reaching a price of 0.0000043 dollars. Despite this impressive growth, the expectation of PEPE Coin reaching a dollar value, similar to Shiba Inu, is not as high. This is largely due to the growing understanding among investors that achieving a dollar value is a tall order for such “meme coins”.
Turning $100 into $1 Million with PEPE Coin?
The question then arises – if one were to invest $100 in PEPE Coin today, what would it take for that investment to turn into $1 million? For an investment of $100 to grow to $1 million, a 10,000-fold increase is required. PEPE Coin has shown this level of performance, having increased by approximately 50,000 times since its launch. However, as adoption increases and more people buy the coin, the rate of growth tends to slow down. Therefore, expecting a similar level of growth may not be realistic.
For the current price of 0.0000016 dollars to increase by 10,000 times, the price would need to rise to 0.016 dollars. This would require PEPE Coin’s current market value of nearly $700 million to reach $7 trillion, a figure that surpasses the total value of the entire cryptocurrency market, which is just over $1 trillion. Therefore, for a $100 investment in PEPE Coin to turn into $1 million, there would need to be a massive influx of capital into PEPE Coin from around the world.
