The cryptocurrency that grew by 1120% in just 3 days is named

Editor’s note: not financial advice!

Cryptocurrency analysts have identified a new meme token, Pepe (PEPE), which managed to grow by 1120% in just 3 days. Named after the popular meme character Pepe the Frog, the digital asset appeared on the cryptocurrency market on April 17 and ranked 6th among the most popular memecoins.

According to CoinGecko, the market capitalization of PEPE reached $ 148 million, and the trading volume in 24 hours exceeded $ 133 million. Most trading took place on decentralized platforms such as Uniswap. Major centralized crypto exchanges also announced the listing of Pepe — trading on Hotbit started on April 17, Huobi opened on April 18, and Bidget announced the addition of Pepe to its innovation zone on April 18.

Cryptocurrency analysts have emphasized that although PEPE is currently enjoying great success, the likelihood of a large-scale collapse remains high. Most memtokens are of interest only from a speculative point of view in the short term. An example of this was the BONK coin based on the Solana blockchain, which grew strongly for several days before a large-scale collapse in the asset’s price occurred, causing some investors to suffer losses.