Meme coins have taken the crypto world by storm, and one of the latest additions is PepeDerp, a meme token that combines the characters of “Pepe the Frog” and “Derp Face.” Launched on May 21, 2023, PepeDerp recorded explosive price gains of over 200% within the first few days. However, experts have voiced rising concerns about the project’s reliability due to the porosity of the meme coin’s smart contract.
Leading crypto data provider website, CoinMarketCap, attached a warning on PepeDerp’s data page cautioning investors about the smart contract’s potential risks. Consequently, investors must be vigilant about this project as it could turn out to be a scam. Notably, the PepeDerp platform has not undergone any audit, has no KYC requirements for token purchases, lacks a whitepaper, and its token dipped drastically following the initial price run.
Blockchain security company PeckShield reported an increasing rate of emerging meme coin scams, with up to 10 fraudulent meme coins surfacing in the industry every three days. So while PepeDerp is perceived as unreliable, investors looking for alternative meme coin investments might consider AiDoge, Ecoterra, and yPredict.
AiDoge is a meme-to-earn platform leveraging artificial intelligence to revolutionize the content-creation niche by allowing users to create unique memes using text prompts. Its native token, $AI, not only offers utility but also enables staking for passive income and voting for project decisions.
Ecoterra, the Recycle-to-Earn (R2E) project focuses on creating a green environment through sustainable and eco-friendly processes. Its native token, ECOTERRA, rewards users for offsetting their carbon footprint and recycling materials.
Lastly, yPredict is an all-in-one toolkit for traders, featuring AI prediction, chart trading, and trading terminals. Offering a recurrent revenue stream, the platform allows users to profit from discounts, staking rewards, and free predictions. Its utility-infused token, $YPRED, gives users access to various services and features on yPredict.
While several meme coin scams have emerged, alternative projects like AiDoge, Ecoterra, and yPredict provide potential investment opportunities with genuine utility and unique features. However, investors must always be cautious and conduct diligent research before investing in any cryptocurrency project.
Source: Cryptonews
