Incredible! I believe this is the appropriate word to start this article, because it's unbelievable how a useless frog token was able to make people millionaires in just one month in the market.
The token is useless, has no utility in the market, and as the website itself states, "it is for entertainment purposes" but it managed to turn the market into a frenzy and was even listed on top exchanges such as Binance and Kucoin. Despite having no intrinsic value, it moved and is still moving a lot of money, to be exact, millions of dollars.
The famous cartoon "Pepe" token has made 15 millionaires so far, at least on paper, as they have already made $92.6 million in profits with the currency alone. That's right, $92.6 million, and together they hold 9.05% of the total $PEPE token supply.
These data were provided by the Lookonchain account on Twitter, a profile that analyzes Blockchain market movements and delved deeply into the issue. The 15 millionaires resulting from the trading gains of the "Pepe frog token" are not listed on cryptocurrency exchanges or even smart contract addresses, for example.
The 15 millionaires benefited from their early entry into the ecosystem and bought the cryptocurrency at a very low price ($0.0000000853) and with the market hype, they were able to resell and make profits that reached unimaginable profits of over $92 million.
The crypto market is not linear and does not follow a clear trading logic, and this cryptocurrency can justify this claim. As mentioned, it is a cryptocurrency with no utility, practically useless, and it is pointless to try to understand how it gained so much trending, leading to the creation of new crypto millionaires from $PEPE!
Meme coins are cryptocurrencies that have definitely come to change a bit of the history of the crypto market, and it seems that they have their own bull run and do not obey the bear market. Now, whether the trend is just starting or ending is difficult to predict because what the crypto market has taught is that it is difficult to predict what happens next. And more!
$PEPE may have been the trigger for the entry of more meme coins into the market with unpredictable trading, and surely many projects will try their luck in the market, so stay tuned and a piece of advice, only invest what you can afford to lose and do not view this article as financial advice, as it is not!
$PEPE is freaking unbelievable.
And you? What do you think of this meme coin hype and particularly the PePe frog token?
Disclaimer: Just an informal article about crypto market news and not in any way a financial advice. Stay safe
