Pepe Coin is a newly launched cryptocurrency that has seen a massive 1,000,000% gain in its price in just five days. It is the token behind the popular cartoon Pepe the Frog meme, and has grown rapidly in popularity among crypto traders and investors. Its price per coin has risen to an astonishing $0.000000265475 demonstrating the market's newly venerated 'meme economy'.

Unlike some other crypto alt-coins, Pepe Coin offers no real fundamental value beyond its novelty, leaving traders and investors with only their confidence in Pepe's virality driving the price. Trading mostly with Wrapped Ethereum (WETH), it has managed a trading volume of nearly $86 million on the Uniswap exchange, and though it is unclear who created the coin or what its total maximum supply is, it is estimated to be around 420 trillion, a tongue-in-cheek reference to 4/20 marijuana culture.

On the chart, Pepe Coin has activated a signal of overbuying with its relative strength index (purple) declining from 70, suggesting a potential dip in prices. However, its support level (green) continues to increase, which may help it pick up from any short-term fall and continue to increase in value.

The token has gained a certain amount of visibility due to its rapid wealth creation, prompting some Twitter accounts to exaggerate its potential for the sake of promotion. Even so, it is still one of the top performing cryptocurrencies currently and its novelty is enough to keep capturing the attention of traders and investors, who hope to earn quick profits. It remains to be seen how Pepe Coin will fare in the long term and if it will be able to retain its foothold in the industry.



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