David Gokhshtein, a former US politician and a famous crypto media face, opened the altcoin basket. As we know that Gokhshtein is a fan of meme coins, the collection he’s displaying isn’t all that surprising.
What’s in David Gokhshtein’s altcoin basket?
David Gokhshtein, a familiar face from Kriptokoin.com news, unveils the altcoin basket. We know the former US politician from his frequent posts about the popular meme coin Dogecoin. So it’s no surprise that her meme coin collection came out of her basket that she recently opened on Twitter. Tokens in Gokhshtein’s collection include Dogecoin (DOGE), Shiba Inu (SHIB), and Floki Inu (FLOKI). However, there is one that immediately stands out. And this is none other than the short-term frog that created a meme coin storm. So, the controversial PEPE found its place in Gokhshtein’s basket.
Due to their ancient history and community support, Shiba Inu and Dogecoin are relatively well understood. However, the same is not easy to say for PEPE, according to experts. Despite being a meme-based token, there is no clear correlation between the fundamentals and technical aspects of the altcoin project. As a result, the spike in popularity of the PEPE token raises concerns within the crypto community.
What makes PEPE controversial?
As you can see from the news of Kriptokoin.com, the value of the PEPE token has increased exponentially in a few days. This is worrisome as it is centrally distributed to only a few addresses, according to experts. Moreover, the fact that these wallets received their tokens almost simultaneously raises suspicions. It also raises questions about a possible coordination. This unusual activity has caused many to question whether there is any manipulation in the token price.
As you may recall, a trader claimed to have made millions by investing only $250 in the token. Thereafter, PEPE witnessed widespread interest. However, it is also possible that this story was carefully crafted marketing.
In general, there is a cycle in which absurdity occurs in every crypto market stage. Strangely enough, a significant amount of money is flowing into it. However, investors need to be careful when investing in such altcoin projects. Because it’s possible that their values will fluctuate wildly. Therefore, it is possible that they may not be as lucrative as they seem at first.
PEPE is changing hands at $0.0000002852, down 4.5% on a daily basis at press time. On the other hand, the token is still in the green zone on a weekly and monthly basis. However, it is unclear what the coming days will bring for the frog-themed token!
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