Some of you may have noticed that new meme coin $PEPE has hit the crypto markets. And in just 3 days made new crypto millionaires.
$PEPE is an ERC-20 token with a maximum supply of 420,690,000,000,000.
Launched on April 17, got listed on Uniswap couple days later. As of today, it has reached market cap of well over 100 million dollars despite having absolutely no utility.
Currently there is no roadmap, no development or any other future plans for the "project".
PEPE’s official Twitter account (pepecoineth) describes the token as the “most memeable memecoin in existence."
However as with any shitcoin, the value of the coin is based purely on hype or sentiment rather than real-world usage or adoption. Even though it will make few people rich (it already has), most people will probably lose their socks if not cautious.
The whole thing has a strong pump and dump vibes but who knows. Only time will tell. Personally, I will sit this one out, so no Lambo for me :).
