Cryptocurrency traders have recently shifted their focus from Shiba Inu-inspired tokens to Pepe-related tokens. Pepe Coin is one such token with a significant increase in value of over 21,000% in the past three days. It currently has a market capitalization of $159 million and has reached over 29,844 individual holders. Its circulating supply is 420 trillion, a reference to “4/20”, a slang term in cannabis culture.

However, it is still unclear whether Pepe coin has the potential to replace SHIB. Crypto trader WolfOfPoloniex, aka The Wolf, comments that Pepe coin is simply a pump & dump. He further stated that enough time has passed for fresh blood unaware of this kind of trading to enter the market and presented it as an early sign of a new bull market cycle. Pump & dump occurs when groups of traders, also known as syndicates, or single investor artificially inflate the price of an asset.

It is important to note that these tongue-in-cheek tokens are not affiliated with or endorsed by their original creators. Presently, Pepe coin is trading at $0.000000348807, with sharp gains attributed to the influx of buyers. However, The Wolf’s comment and the fact that these trades are pump & dumps, make it highly unlikely for it to replace SHIB. Investors ought to exercise extreme caution when dealing with Pepe Coin and other similar tokens, as they may not be as lucrative as they appear.



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