Crypto investors are witnessing a new meme coin explosion after Shiba Inu (SHIB) and Dogecoin (DOGE). This altcoin, which made 210x in a short time, brought a number of investors to millionaire status.
SHIB and Dogecoin now have a strong new competitor
The trends of the cryptocurrency market are maintained on a new coin every day. The recently launched PEPE Coin (PEPE) has attracted investors’ attention with its high returns and has already made several millionaires. Pepe Coin’s rally is also a hot topic for research platforms like Unusual Whales.
According to the data, Pepe Coin has rapidly increased its market capitalization since its launch on April 15 and currently has a market cap of over $150 million. This means a very successful performance for a new altcoin.
These investors became millionaires in a week with Pepe Coin
Thanks to explosive growth, a number of PEPE investors have become millionaires. In one of them, an anonymous trader turned $251 investment into millions in just a few days. Investors are now flocking to the new project, which they hope can repeat the success of other meme cryptos like Dogecoin and SHIB.
Specifically, a trader spotted by Blockchain analytics platform Lookonchain spent 0.125 Ethereum (ETH) to purchase 5.9 trillion PEPE on April 15. This investment turned him into a millionaire. His investment is currently valued at well over $2 million.
At the same time, another user managed to earn nearly $1 million after investing just $27 to buy more than 2.5 trillion PEPE on April 19. As Kriptokoin.com, we have included other transactions made by the investor in this article.
What is Pepe Coin? How did it trend?
Built on Ethereum, PEPE is a powerful blend of decentralized technology and meme culture, due to the widespread popularity of the meme across various social media platforms. Pepe the Frog was born as a character in Matt Furie’s comic series ‘Boy’s Club’ in 2005, and users in places like MySpace, Gaia Online, 4chan and Reddit have shared it widely.
In terms of price, it is returning its gains in the last days in double digits. At the time of writing, it is trading at $0.0000002284 with losses of over 30% intraday.
Whether PEPE manages to maintain its bullish momentum or continues to rise will depend on many factors, including developments and sentiment directly related to it, as well as the overall atmosphere over the broader crypto market and the global macroeconomic landscape.
How about DOGE and SHIB?
Dogecoin failed to record the expected rise despite Dogeday celebrated every April 20. At the time of writing, it is trading at $0.08382, down 5% on a daily and weekly basis. Shiba is experiencing similar depreciation.
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