The meme coin market is known for its volatility, but one player is currently standing out from the crowd. Popularly known as PEPE, PepeCoin has seen a significant uptick in daily active addresses, more than doubling its figures in recent weeks.
According to blockchain data from Coinmarketcap, PEPE daily active addresses have grown from around 500 in mid-March to over 1,200 as of April 2, suggesting a growing interest in the meme coin.
This unexpected growth in user activity has been raising eyebrows in the crypto community, especially given that PEPE was initially viewed as a relatively niche and lesser-known meme coin.
Despite this, some speculate that the surge in active addresses could be due to a combination of factors, including the influx of investors into the crypto market fueled by the promising airdrops and buzz around meme coins.
On Memorial Day, while the U.S. stock market was closed, crypto traders pushed Pepecoin to an all-time high of $0.00001698. Although the price dipped by 4.8% the following day, the majority of Pepecoin holders remain in profit.
Suggesting that PEPE is drawing a new wave of investors who are possibly new to the crypto space and are drawn to its unique branding and community-driven nature.
The PepeCoin community, known as the “Pepe Army”, has been a driving force behind the coin’s popularity, with users creating their Pepe-themed memes, art, and even merchandise.
The PEPE Army has also embraced a sense of fun with investors sharing memes and jokes on social media, often poking fun at other cryptocurrencies and their communities.
Despite PEPE’s growth, some skeptics remain unconvinced about the long-term viability of the coin, especially given its origins as a meme-driven currency and its relative lack of real-world use cases.
Nonetheless, PEPE has caught the attention of crypto lovers, with some comparing the coin’s recent growth to the early days of DOGE, which started as a joke currency before exploding in popularity and reaching a market cap of over $90 billion at its peak.
$PEPE Official Links
Website: pepe.vip
Telegram channel: t.me/enterpepe
Uniswap: https://t.co/CmbWJMKbZD
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