At a time when the prices of the main cryptocurrencies Bitcoin and Ethereum are falling, crypto memes just shot great in just two weeks, skyrocketing 21 thousand percent.
In the past 10 days, BTC’s price has slumped by more than 10 percent, bringing it crashing down from above levels psychological headline of US$30,000, to around US$27,000. Sign bearish return is anticipated.
Crypto Memes This Price Soars to the Sky
Based on reports Forbesat a time when most major cryptocurrencies are languishing, crypto memes A new name called Pepe The Frog is gaining strong interest from investors, the price has skyrocketed 21 percent since its launch last weekend.
With incredible growth, Pepe The Frog token sits in sixth place as crypto memes the largest by market capitalization, at around US$150 million.
“Crypto memes once again polarizing the crypto world. a new project, Pepehas amassed a US$100 million market cap in less than one week,” wrote Analysts at Crypto Research Firm Messari.
According to the analyst, the price spike in the Pepe token is not much different from the spike that occurred in crypto memes others, provide fantastic returns for early investors.
CoinMarketCap also posted a note on the Pepe token page, saying that traders should exercise caution before deciding to invest in this token.
According to Messari Analysts, early investors may now have seen huge returns on paper. However, it will be difficult to cash out into other cryptocurrencies or US dollars because pool low liquidity, only around US$3 million.
“One of the earliest buyers has turned a $0.125 buy of Ethereum into nearly US$2 million in sequence…However, since these individuals own 1.4 percent of the total supply, they will not be able to realize this return without destroying the market,” said the Analyst.
Previously, there was crypto memes named dog themed Bonk Inu which also experienced a fantastic price spike after its launch.
If you want to last a long time, crypto memes it seems necessary to have real, useful utility, so as not to be abandoned by bored investors and see no benefit from them. [st]