Pepecoin (PEPE) recently experienced one of the most unprecedented rises in the market of alternative currencies (altcoins) with a colossal 5,000,000% increase within the past few weeks. After reaching its peak of $0.00000431 on Friday, the token has since dropped by an extraordinary 45%. The cause of this drastic loss could be down to traders taking profits from their positions and utilizing advanced trading strategies following the introduction of several pepe-tracked futures into the market. As such, individuals investing in these tokens have seen themselves become millionaires overnight, such as the pseudonymous trader dimethyltryptamine.eth who purchased trillions of PEPE tokens with only $263. Although a few extraordinary cases of wealth like this have occurred, others may not be so lucky. This is due to the concerns surrounding investors buying huge amounts of the token which could result in the future of PEPE coins to become solely in the hands of a few. As a result of the vast profits being made from the token, this has triggered an all-time high for Ether (ETH) deposits to exchanges since early November 2021 when it set a lifetime high of $4,500. On-chain analytics firm Santiment took the time to tweet that the increase in ether deposits could most likely be traced back to traders taking profits from their pepe positions, this is evidence that pepe tokens could be exchange for a safe ETH investment. To summarise, users have seen their investments pay off in the long run following their purchase of pepe coins but with few who can take advantage of this, people must consider the implications that this could have on the future of the token and how it will be sustained.



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