Cryptocurrency trader WolfOfPoloniex, aka The Wolf, has recently commented on the Pepe Coin. He stated that Pepe Coin is so dumb and that he has seen it time and time again, which hasn’t surprised him.
He also stated that Pepe Coin is nothing but a pump & dump, and that enough time has passed for fresh blood. The Wolf also commented that these are all early signs of an upcoming new bull market cycle.
Some traders on Crypto Twitter appear to be shifting their attention from Shiba Inu-inspired tokens to those based on the internet meme Pepe the Frog. One such token, called Pepe (PEPE), was launched on Sunday and has experienced a significant increase in value, rising over 21,000% in the past three days.
This surge in value has resulted in its market capitalization rising to $159 million at present. According to data from blockchain tracker Etherscan, Pepe has reached 29,844 individual holders as of Tuesday.
The circulating supply of the token is 420 trillion, which is a reference to “4/20,” a popular slang term in cannabis culture. It’s important to note that the tokens are not affiliated with the actual Pepe the Frog meme or its original creator, Matt Furie.
At press time, PEPE is trading at $0.000000348807, with its price showing double-digit gains. However, the potential for this meme coin to replace SHIB is out of the question at the moment. Several traders are still debating that PEPE is nothing but a pump & dump that will cause the investors to lose all their money.
The post The Wolf Says Pepe Coin is Nothing But a Pump & Dump appeared first on Coin Edition.
See original on CoinEdition
Source: Cryptocurrency - investing.com
