In the last 24 hours, Pepe Coin has surged by more than 270%, reaching a price of $0.000000265475, which is a staggering 1,000,000% increase since its launch on Sunday. Pepe Coin's emergence coincides with a new market trend for meme tokens based on Pepe the Frog, a cartoon humanoid frog that has gained popularity in certain online circles. Despite its lack of real fundamentals beyond its apparent virality, many traders are investing in the token, causing its price to rise. However, it may fall as quickly as it has risen, as other meme tokens offer more utility and value. The coin's relative strength index has started to decline in the past hour from 70, indicating overbuying, and while it may see a dip in the coming hours or days, its support level has been rising steadily since its launch, allowing it to consolidate around ever-higher bands. Pepe Coin is currently trading mostly with Wrapped Ethereum on Uniswap, where it has a trading volume of just over $86 million.
The token's maximum supply of 420 trillion, an apparent reference to 4/20 cannabis culture, hints at significant interest in Pepe Coin. However, little is known about the coin apart from its meme-based model, and it has no association with Pepe the Frog's original creator, Matt Furie. Nevertheless, Pepe Coin has surged in value over the last few days, topping the list of highest-rising cryptocurrencies in the market. Despite the lack of any intrinsic value or utility, the price gains and online hype could sustain it for a short time. A small but vocal online community has already emerged to promote Pepe Coin with exaggerated claims.
Therefore, solely relying on the community may enable it to maintain its upward trajectory, albeit for a short period, until another trend takes over.
It is also wise to follow other meme coins that are on the rise. This includes Wojak and ArbDoge AI.
Beginning on April 15th, individuals who qualify for the $ARB airdrop are eligible to receive airdropped $AIDOGE tokens. The airdrop can be claimed directly on the website until May 15th. The total supply of $AIDOGE is 210,000,000,000,000,000 (100%), and all of them are available to those who have claimed the $ARB airdrop. As of April 16th, 110,000 of the 620,000 eligible individuals for $ARB airdrops had claimed their $AIDOGE tokens.
