PEPE 2.0 ruffles feathers in the memecoin segment. According to recent data, the volume of PEPE grew by 1,261% compared to the first days.
PEPE has recently taken the memecoin world by storm, especially with its robust growth. It has since lost momentum and PEPE 2.0. This is because its successor showed promise as the next potentially important memecoin.
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Multiple other memecoins have attempted to replicate PEPE’s recipe for success. It is the same strategy that other successful memecoins have used in the past, but not all attempts are successful. PEPE 2.0 is perhaps the last effort to have some success so far. It might have a shot at becoming the next big memecoin and here’s why.
The first wave of PEPE 2.0 announces its presence
The PEPE 2.0 volume has been rising in recent days. Recent findings indicated that the volume was so robust that at one point it exceeded the Shiba Inu’s daily volume. In short, this made it the top memecoin by daily volume.
Pepe 2.0 is fast becoming the #1 memecoin. It’s just been surpassed #SHIB by 24-hour trading volume. I am BEYOND impressed! Binance, coinbase, kraken, crypto dot com, OKX and others will follow @kucoincom in list. 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀 pic.twitter.com/ribj1Sgajr
— YourPOP (@Yourdoll8) July 7, 2023
To put the growth of PEPE 2.0 into perspective, it is one of the more recent entries in the memecoin fold. The earliest recorded price and volume data on Coinmarketcap dates back to June 28.
So it’s not even been two weeks. During that time, the lowest daily volume was less than $12 million. In contrast, it registered its highest daily volume figure of $163.32 million in the past 24 hours.
Source: Coinmarketcap
The data indicated that the volume of PEPE 2.0 has grown by 1,261% to date compared to the initial daily volume recorded. This gives a rough idea of how much it has grown in such a short time. Unfortunately, it is still too young for market capitalization data to be available yet.
Is it worth taking a risk?
New generation of memecoins have interesting features. As mentioned, they have an initial phase where whales buy frantically, increasing visibility and volume rapidly. Once they reach critical mass, they begin to attract retailers.
At the moment, the focus is not really on long-term vision, but on profit-taking. This could explain why these new memecoins are running low after a short burst of fame.
So, where is PEPE 2.0 now? Well, there is one critical stage where the early investors secure exit liquidity. This is the stage where the memecoins start looking for exit liquidity from the exchanges. The end game of exit liquidity is listing on major exchanges.
This stage is often marked by a sudden surge in popularity due to heavy marketing. It is followed by retail activity which provides the aforementioned liquidity.
How much are 1,10,100 PEPE 2.0s worth today
PEPE 2.0 evangelists are now urging major exchanges such as Binance, Kraken, and Coinbase to list this new memecoin. But will it suffer the same fate as its predecessor? Welly, the PEPE coin has no special uses as far as we know. As always, DYOR is best before jumping to your own conclusion.
This post PEPE 2.0: Why skepticism reigns despite this major development
was published first on https://ambcrypto.com/pepe-2-0-why-skepticism-dominates-despite-this-major-development/
