Is it memecoin season?

Cryptocurrency Diary

The recent resurgence of meme coins is creating buzz in the cryptocurrency market.

Several coins such as PEPE, WOJAK, PPIZZA, and WSB are experiencing rapid growth.

In particular, PEPE has achieved an increase of over 700% in less than 3 weeks, reaching a market capitalization of 500 million dollars.

However, these new meme coins still have a long way to go to catch up with the original meme coins, such as Dogecoin with a market capitalization of over 10 billion dollars and Shiba Inu exceeding 5 billion dollars.

PEPE, with a ratio of 24-hour trading volume to market capitalization of 0.85, is currently absorbing a large part of the market liquidity, attracting attention away from older meme coins.

However, it is uncertain whether this trend will continue.

While some traders may profit from the meme coin boom, it is important to approach investing with caution, as there may be a dump following the pump.

Investors should consider securing part of their profits when in a favorable position, but the future of these meme coins is unpredictable at this point.

Born in 1982, he is a beatmaker and music producer who produces hiphop and rap beats, and also produces and consults music artists. He also researches web marketing strategies for small businesses through music activities and personal blogs. Because he grew up internationally, he understands English. His hobbies are muscle training, photo processing, WordPress customization, K-Pop, web3, NFT. He also loves Korea.

Genx BeatsFollow
Cryptocurrency Diary
Crypto Genx