PEPE Coin Could Take The Spotlight After Shibarium Debut – Here’s Why

Christian Encila

1 year ago

3 mins read

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PEPE, the amphibian-themed token that kickstarted the meme coin season in April this year, remains a subject of both fascination and volatility within the cryptocurrency landscape. Its journey, marked by highs and lows, offers insights into the evolving dynamics of this speculative market.

In a surprising turn of events, the meme coin arena witnessed a significant exchange of millions of SHIB and BONE tokens for PEPE, shortly after the successful launch of Shibarium’s mainnet.

A notable whale, identified by Lookonchain as per a PEPE price analysis data cited in a new analysis shifted its holdings from SHIB and sister-token BoneShibaSwap to PEPE, raising eyebrows in the crypto community.

The whale’s move, which included a substantial deposit of 143 billion SHIB into Binance, hints at a potential strategy shift and a “buy the rumor, sell the news” approach that seems to favor PEPE at the expense of SHIB.

PEPE Coin price action today. Source: Coingecko

However, PEPE’s recent price performance has been on a rollercoaster ride. The current price of $0.00000110, as reported by CoinGecko, reflects an 8% slump in the last 24 hours and a 12% decline over the past seven days.

This stark fluctuation highlights the inherent volatility of meme coins, where sudden shifts in sentiment can lead to rapid price movements.

PEPE Social Volume, Holder Numbers Paint A Complex Picture

The report’s analysis reveals an intricate pattern in PEPE’s social volume over the past month. The coin’s popularity has swung back and forth, indicating days of heightened interest juxtaposed with relative indifference.

However, in the face of this up-and-down pattern, a notable trend emerged – the rise in the number of PEPE holders.

Currently, the coin boasts a total of 137,000 holders, underscoring a dedicated community that remains engaged despite the market’s unpredictable nature.

PEPE total amount of holders. Source: Santiment.

The Quest For New Meme Coins On DEXes

In the wake of PEPE’s price correction, traders have turned their attention to emerging meme coins on Decentralized Exchanges.

The allure of new low market cap cryptocurrencies lies in their potential for exponential gains before even making their way to Centralized Exchanges.

These gains are often followed by retracements, as shorting opportunities become available post-listing.

PEPE is currently trading at $0.0000010965. Chart by TradingView.com

A stand-out example post-PEPE’s correction is HarryPotterObamaSonic10Inu (BITCOIN), a meme coin that has secured a consistent spot among the top 10 trending cryptocurrencies on DEXTools.

Its journey underscores the dynamic nature of meme coin investments, as traders seek the next opportunity to ride the wave of speculative enthusiasm.

In the world of meme coins, PEPE’s story mirrors the wider crypto market’s blend of excitement, uncertainty, and the continuous pursuit of the next big opportunity.

(This site’s content should not be construed as investment advice. Investing involves risk. When you invest, your capital is subject to risk).

Featured image from Benzinga

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.