The weekend market flashes green as meme coins, such as Coin, continue to gain popularity. Recently, Pepe Coin’s price surged by 33%, standing at $0.000001644, and astonishingly delivering 2,777% returns to its early investors within just a month. A fascinating feat for such a young coin, Pepe Coin even briefly surpassed a market cap of $1 billion. This clearly indicates that meme coins are far from their last leg, as some had predicted.
Meme coins like Pepe, $SPONGE, Wojak, and Milady Coin seemed to have captured the attention of the crypto community, which begs the question: Can Pepe Coin price really pump to $1? Some Pepe Coin price predictions are estimating the coin to surge as high as $1, a staggering 60,827,150% climb from its current price. While that may seem outlandish, even a fraction of that return could yield life-changing returns.
The past trading activity has shown that meme coins can indeed decouple from the rest of the crypto market to some extent – although they remain highly speculative and can exhibit substantial price swings. For instance, Pepe Coin offers a Sharpe ratio of 1.37, indicating strong risk-adjusted excess returns when measured against the standard deviation of volatility.
While bearing in mind that this is a speculative market, dollar-cost averaging into Pepe Coin, and other newer meme coins like $SPONGE, could prove to be a smart move as they continue to gain momentum. The globally recognized cartoon character, Spongebob, inspired $SPONGE, which has seen an impressive performance within its first week, almost reaching a market cap of $100 million and securing eight exchange listings. The project appears to have serious backing and boasts substantial community growth. Its Twitter account, for example, has attracted more than 40,000 followers within a week.
On the other hand, AiDoge.com ($AI) is another meme coin project building a meme generator using generative image AI. It’s currently in its presale stage and is raising approximately $1 million per day, pooling around $6.5 million thus far. AiDoge coin ($AI) offers a unique proposition, combining the virality of the meme coin niche with the transformative potential of AI technology.
To sum up, both Pepe Coin and $SPONGE have shown remarkable growth in their initial stages, and their future looks promising. However, potential investors must tread carefully, considering the highly speculative and rapidly shifting nature of meme coins. Keep a keen eye on the market trends and explore other emerging projects, such as AiDoge.com ($AI), before making informed investment decisions.
Source: Cryptonews
