Pepe Coin Rises to The Top 10 Most Traded Coins Worldwide – But Is it Time to Explore Alternative Cryptocurrencies?
Pepe Coin (PEPE) has been a blessing for the market as a whole. Meme coins were already enjoying a successful 2023 but with this token's overnight success, they are now the stars of the crypto market. With so many of the big traditional projects having the shadow of regulation looming over their currency, meme coins have become a breath of fresh air for the market.
PEPE's success will likely go down in history as one of the craziest market moves of all time. It came out of nowhere to provide investors a return of 20,000% in just a few days. It truly was amazing and now everyone else is looking to try and get involved. Pepe coin has even entered the top 10 most traded coins worldwide!
We can't help but feel like this will turn into a case of being left with the cheque when everyone else has already left for those that are only getting involved with PEPE now. All over the crypto sites at the moment you can see articles saying PEPE will take over from SHIB, PEPE will break $1, and PEPE is going to pump again.
Realistically this is not the side any investor worth two cents should be on and here's why.
The 7-day price chart for Pepe coin (PEPE) would indicate that it has just experienced a market correction. Many are expecting it to take off again and some of the underlying trading numbers might indicate they are right. Its short-term trading average has now fallen below its long-term so in general this would indicate that it is possible a pump could happen.
Pepe Price ChartHowever, a little history lesson would teach us to be much more skeptical. A lot of analysts are suggesting that PEPE is the new SHIB, this is because SHIB has a preposterously large supply of 999 trillion tokens and PEPE has 420. So many think it will take over as the number 1 low supply coin.
The below is Shiba Inu's chart from the highest pump of its lifespan in October/November 2021. As you can see after its highest point it had a lot of corrections. Many analysts also predicted at various points that it was about to pump again and the underlying statistics were good. This of course did not turn out to be true and the same situation is likely in store for PEPE.
The hard truth is coins like Dogecoin (Doge) and Shiba Inu were on the decline anyway before PEPE came along. The rebirth of the meme coin with no utility turned out to be fantastic for a lot of investors but the key lesson we have learned is you have to know when to get out of these projects.
We think the PEPE craze might be coming to an end but that doesn't mean you can't find the next meme coin that will pump just like it. Many investors are now flocking to LADYS, BEN, TURBO, MEMEME, NOMEME and others.
We also picked out two current candidates on the market that could be ready to take the meme coin throne:
Spongebob token- All the qualities in place to replicate PEPE successPEPEs success seemed to be quite random, one investor bought trillions worth of tokens in exchange for some ETH and voila suddenly you have investors everywhere piling on just for fear that they might be missing out on something. Just like that a hit coin is made.
However, there is more to it than that. The very genesis of every successful meme coin is of course the meme. PEPE is one of the oldest internet memes and it is likely that nostalgia had a big part to play here. Spongebob token ($SPONGE) is not only a vintage meme but it is also incredibly popular in the world of crypto.
The tv show is also likely the most referenced show when it comes to internet memes so when you add that all up it is surprising no one else has thought of this before now. In the case of $SPONGE, we actually do feel that it is currently going through a correction but unlike PEPE it has not yet pumped to what it is capable of yet.
While some analysts are looking to PEPE and other such coins as possible heirs to the meme coin throne in reality the market has been moving away from these kinds of coins. While coins like PEPE and $SPONGE certainly have their place in diverse portfolios, it is a project like AiDoge (Ai) that will, in the long run, take over as the number one meme coin.
AiDoge not only has the viral capabilities of other meme coins but it also has great utility. It will be the first meme-to-earn site and it will also utilize the other hottest trend hitting the crypto market, AI technology.
Site users will be able to lean on the technology's knowledge of the crypto market to help them make the best memes they've ever made. Then there is the fact that the best memers will be rewarded with Ai so they can make income from their creations.
This is the dream for most crypto lovers and this project has already drawn a lot of attention. The presale has already raised over $5 million and it is now going through such a purple patch that stages are being passed through almost daily as the influx of funds is coming so fast. There are still plenty of presale stages left though so investors have time before the CEX listings to get it at a discount price.
We will leave you with this piece of advice, if you have not yet gotten involved with PEPE please be careful with your investment choice. While it may indeed pump again we believe there are significant historical examples that say the run may be over.
There are also much more intriguing projects like Spongebob Token and AiDoge out there that are available at prices with much more value. They both represent different kinds of meme coins so it gives you the chance to take on the market from two different angles.
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