The PEPE Phenomenon
The meteoric rise of the Pepe coin, propelled by its “pure memetic power,” has captivated the cryptocurrency world. Within a mere three weeks of its release, this altcoin, named after the popular meme co-opted by the American alt-right, saw its market capitalization surge past $1.6 billion, according to CoinMarketCap. While it has since settled at around $800 million, the trading frenzy surrounding Pepe and its trading symbol, $PEPE, demonstrates the unpredictable nature of meme-based cryptos – and crypto as a whole.
The origin of Pepe can be traced back to a Twitter account named @pepecoineth, which shared a photo of a green frog donning a red cap with the slogan “Make Memecoins Great Again.” This whimsical image soon gave birth to the Pepe coin, boasting a total supply of 420.69 trillion coins—a numerical nod to its playful nature. The value of each coin hovers around two to three millionths of a dollar. Since its debut on CoinGecko in mid-April, Pepe has skyrocketed in price by over 900% and secured listings on prominent exchanges like Crypto.com and Binance.
The remarkable ascent of Pepe raises the question of how something initially perceived as worthless can gain such substantial value.
Pepe joins the ranks of other memecoins, such as Dogecoin, which gained popularity for its use of the “doge” meme. Dogecoin initially created as a joke by developers Billy Markus and Jackson Palmer, now boasts a market capitalization exceeding $10 billion. The success of Dogecoin and the subsequent flood of memecoins, including Shiba Inu and Good Gensler, demonstrates the enduring appeal of meme-based cryptocurrencies.
So, if a coin with relatively no use cases can make such a massive splash, what can a project with huge utility do?
As PEPE slowly declines, attention is now shifting to the InQubeta project and its native token, QUBE.
InQubeta aims to revolutionize the way AI start-ups raise funds and engage with their community, presenting an intriguing investment opportunity for crypto enthusiasts. The QUBE token, created by InQubeta, powers the platform’s crypto crowdfunding capabilities, enabling fractional investments in AI start-ups using blockchain technology.
With each investment opportunity minted into an NFT and fractionalized, investors can participate in the growth of AI start-ups in a way that suits their budget. This innovative approach offers a seamless and efficient investment process, while the InQubeta NFT marketplace provides a platform for start-ups to raise funds and offer reward and equity-based NFTs.
Similar to PEPE, the success of QUBE hinges on several factors. First and foremost, the adoption and growth of the InQubeta platform will play a vital role in driving demand for QUBE tokens. As more investors and start-ups participate in the ecosystem, the value of QUBE is expected to rise, potentially delivering substantial returns for early investors.
Furthermore, QUBE’s deflationary nature adds an intriguing element to its potential price appreciation. With a 2% tax on all buy and sell transactions directed to a burn wallet, the token becomes scarcer over time, which can contribute to better price discovery. This mechanism aligns with the principles of supply and demand economics, creating an environment where QUBE could experience significant price growth in 2023 and for years to come.
However, it is important to note that price predictions in the cryptocurrency market are inherently speculative and subject to various factors. Crypto markets are highly volatile, and price movements can be influenced by market sentiment, regulatory changes, technological advancements, and other unpredictable variables. Therefore, conducting thorough research and understanding the risks associated with investing in cryptocurrencies is crucial.
While QUBE holds great promise as an investment opportunity, investors should exercise caution and evaluate their risk tolerance before making any investment decisions. Assessing the project’s fundamentals, including its team, technology, partnerships, and roadmap, can provide valuable insights into its potential for future growth.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of NewsBTC. NewsBTC does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
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