Memecoins
Missed Pepe? MEW, MEME, WIF and Popcat Memecoin could also pump
Pepe price has had a strong performance since its inception in 2023. The meme coin rose to a record high of $0.000172 this week, giving it a market capitalization of over $6.3 billion. It has now become the third largest meme coin in the world after Dogecoin and Shiba Inu.
Because meme coins are soaring
Pepe has grown so much due to its high demand among users. According to CoinMarketCap, over 45% of Pepe tokens are held by whales, while the rest are held by smaller investors. Additionally, most token holders are held by cruisers, who hold them for one to 12 months.
Traders are always on the lookout for the next meme coin that could explode in popularity. Over the years, they have seen Dogecoin’s market capitalization rise to over $23 billion and Shiba Inu’s value rise to over $16 billion.
Additionally, traders have observed how these meme coins trade during cryptocurrency bull runs. In the past, meme coins outperformed big coins like Bitcoin, Ethereum, and Litecoin when cryptocurrencies were doing well.
This happens due to the lower notional value of these tokens compared to larger ones. Bitcoin was trading at $68,000 on Thursday, while Pepe was worth just $0.000015. Therefore, a trader can purchase over 600,000 Pepe tokens with just $10 and 0.0014 Bitcoin.
Still, as warned There is a possibility that the cryptocurrency industry will go through another winter on Wednesday. This is because the Fed may decide to keep interest rates higher for a longer period and the biggest news of the year has arrived.
The SEC has already approved Bitcoin and Ethereum ETFs while the Bitcoin halving it happened in April. There is also a risk of manipulation in the meme coin industry. Pump, drain and flush sales are common in the market.
The best alternatives to Pepe
If you missed out on the Pepe token, there are other alternatives to consider, but it’s important to remember the inherent risks. One of these alternatives is BRETT, a new meme coin on the Blockchain Base. BRETT could probably become the next big thing, as he is a pioneer in a fast-growing chain, similar to how Shiba Inu and Bonk have done. BRETT’s market capitalization has risen to nearly $1 billion.
The other meme coin to consider is dogwifhat (WIF), which has become the largest token in the Solana ecosystem with a market capitalization of over $3.7 billion. The data shows that WIF has over 144,000 active wallets.
Book of Meme (BOME) and Popcat are the other major meme coins that could become huge in the next bull run. BOME has a market capitalization of over $981 million and over 80,000 holders while Popcat has nearly 50,000 holders.
Other alternatives to Pepe (PEPE) that could do well in the future are Memecoin (MEME), Turbo, Cat in a Dogs World (MEW), and Degen.