Over the last few weeks, we have seen an explosion of new memecoins that for some reason, excluded legacy ones. Pepecoin was at the forefront of the latest hype around memecoins. However, this also fuels a very pertinent question – Is this just the beginning or was its performance just a fluke?

Read Pepecoin Price Prediction for 2023-2024

We might need to dissect this crypto to understand its anatomy and that means first understanding the extent of Pepecoin’s performance.  This memecoin has been around for less than 2 months, but somehow managed to attract heavy investment. It rallied by over 3000% from its lowest historic price to its highest price level on 5 May.

Pepecoin was worth less than $20 million in market capitalization in its early days. However, the massive hype around it attracted a lot of liquidity that pushed it to a market cap of almost $1.5 billion.

A market cap gain of more than $1 billion in less than 4 weeks is certainly an impressive feat for any type of cryptocurrency.

How and why did Pepecoin achieve this impressive milestone?

As noted earlier, memecoin season has been trending for the last few weeks. One of the key characteristics of the latest one is that investors are not interested in legacy memecoins like Dogecoin and Shiba Inu. Instead, traders are looking for opportunities that could attract a lot of hype and have a lot of upside potential.

Pepecoin fit the bill because it was previously non-existent on the blockchain, but it also had another major advantage. It was based on Pepe, the frog meme that has been around for years. Hence, it was well known. These characteristics made it a healthy candidate for the next big thing in the memecoin segment.

Is Pepecoin still worth buying?

Pepecoin’s marketcap has already been slashed by half from its latest ATH. This is a sign t

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Author: Michael Nderitu

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