🚀🐸 $PEPE's jaw-dropping rise to a $1B market cap in under a week! 🤯
This #MetricsMindsWeekly dives into the phenomenon with insights from @adriaparcerisas, @amir007_eth, & @Mr_Nobody73.
Discover how #memetokens impact the #crypto world. 🧵
1/ Meme tokens like $PEPE and $DOGE charm retail investors with humor and parody.
With 200+ meme coins, value hinges on hype and liquidity, not fundamentals. 📈
2/ At $PEPE's peak, traders paid 6x the average gas fees on Ethereum.
But high fees didn't deter traders, eager to transact before potential collapses. 🌬️
3/ Meme tokens excel at attracting new users short-term. In mid-April, 20,000 new users joined Ethereum! 🌍
4/ Most $PEPE holders are whales, dominating the meme token scene. 🐳
5/ Harsh reality: nearly 78% of users lose in meme trades, while few make massive profits. A trader even sold $2M worth of $PEPE! 💰
6/ Interestingly, $PEPE and $BTC price changes aligned for 100+ hours. 🤔
7/ Even established cryptos like $BTC are influenced by rumors. A false tweet caused a 7% drop. 📉
8/ Main takeaway: Hype, rumors, and whales impact meme tokens and established cryptos. DYOR, verify news, and stay updated. 🧠💡
📚 Don't miss this post on $PEPE, $MUMU, and $BTC: blog.metricsdao.xyz/weekly-degen-m…
Stay tuned next week for more #MetricsMindsWeekly insights! 🌟
Big brains who might want to see this (and you should follow):
@rektdiomedes
@drakedanner
@dr_ethereum
@0xKofi
@RantumBits
@Darrenlautf
@1kbeetlejuice
@pseudotheos
@zachxbt
@defi_mochi
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